Price trend

According to the data monitoring of SunSirs, the domestic cobalt price fell slightly on April 8, and the cobalt market fell. On April 8, the cobalt price was 550,100 RMB/ton, down from 555,300 RMB/ton on the previous trading day, a decrease of 0.94%; the cobalt market fell, and the cobalt price fell slightly.

Analysis review

The international cobalt price has stabilized, and the price difference between domestic and foreign markets still exists; the consumption of new energy vehicles has declined. Affected by the epidemic, the installed capacity of ternary batteries has dropped month-on-month. The Tesla factory in Shanghai has been shut down and the recovery time has not been determined. The demand for cobalt market has declined, and the downward pressure on the cobalt market has increased. Cobalt salt prices fell, and nickel prices dragged down cobalt prices. Due to the decline in cobalt prices, traders actively sold goods, which hit domestic cobalt companies' confidence in quotations, and cobalt prices fell further.

Market outlook

Traders are actively selling goods, and the cobalt market is in sufficient supply; the epidemic has affected Tesla's shutdown, and the consumption of new energy vehicles has declined, and the demand in the cobalt market has declined. To sum up, in the short term, the supply is oversupplied, and the downward pressure on the cobalt market is increasing. The recent cobalt price is at greater risk of falling, and the cobalt price will continue to rise in the long run.

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