Chinese cobalt prices fell on February 16

On February 16, the domestic cobalt price fell, and the cobalt market fell. On February 16, the cobalt price was 532,900 yuan/ton, down from 534,600 yuan/ton on the previous trading day, a decrease of 0.32%; after the festival, the cobalt price rose sharply. On February 15, the cobalt price was 502,400 yuan/ton compared with the cobalt price in early February. rose, or 6.41%. After the festival, the cobalt price rose sharply, the cobalt price rose too fast, the risk of falling cobalt price increased, and the cobalt market fell.

Analysis points

The international cobalt price has risen, and the price difference between domestic and foreign has widened; the consumption of new energy vehicles has grown more than expected, the demand in the cobalt market has grown more than expected, the mobile phone market has recovered, the demand in the cobalt market is strong, and the cobalt market has a strong upward momentum. The price of cobalt rises too fast, and there is a greater risk of falling in the market outlook.

Market outlook

Demand exceeded expectations, and cobalt prices rose sharply, and the price of cobalt rose too fast, and there was great downward pressure on the market. It is expected that the cobalt price will fluctuate strongly and stabilize in the market outlook.

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

If you have any questions, feel free to contact SunSirs with support@sunsirs.com.