This week, domestic cobalt prices continued to rise above the 500,000 mark. As of January 24, the average cobalt price was 505,700 yuan/ton, an increase of 1.32% from the average cobalt price of 499,100 yuan/ton on January 17.

International cobalt prices rise

On January 20, LME cobalt prices rose sharply, electrolytic cobalt prices rose, and the domestic cobalt market gained momentum.

Market overview

The subsidy of new energy vehicles has declined, the growth rate of sales of new energy vehicles has slowed down, and the growth of cobalt has slowed down. The sharp rise in international cobalt prices has stimulated the domestic cobalt market to follow up, and the domestic cobalt price has finally exceeded the 500,000 yuan mark. In the future, the supply of cobalt market is normal, the demand is high but the growth is limited, the cobalt price continues to rise, and the resistance is relatively large. It is expected that the cobalt price will fluctuate and stabilize before the festival.

Relevant listed companies: Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).

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