Price trend

According to the data monitoring of SunSirs, the cobalt market continued to decline this week, and the cobalt price fell sharply. As of May 16, the average cobalt price was 510,500 RMB/ton, down 5.46% from the cobalt price of 540,000 RMB/ton on May 1 at the beginning of the month, and down 4.45% from the price of 534,300 RMB/ton on May 9. Both supply and demand in the cobalt market were weak, and cobalt prices fluctuated and fell this week.

Analysis review

Lithium iron phosphate seized market share of ternary batteries

In April, the growth rate of production and sales of the automobile market hit a new low in the past ten years, and the production and sales of new energy vehicles fell by 33-38% month-on-month. Lithium iron phosphate batteries continued to seize the market share of ternary batteries, and the proportion of lithium iron phosphate installed capacity was gradually approaching 70%. In general, the sales of ternary batteries have declined, the demand in the cobalt market has declined, and the pressure on cobalt prices to fall was great.

International cobalt prices fell

It can be seen from the MB cobalt price table that on May 12, the MB cobalt price fell, the international cobalt price fell, and the cobalt market fell.

Market outlook

The data analyst of SunSirs believes that the international cobalt price has fallen, the price of cobalt salt has fallen sharply, the market share of ternary batteries has declined, and the demand in the cobalt market has declined; the supply side is relatively stable, and the downward pressure on cobalt prices has increased. In the market outlook, both supply and demand in the cobalt market are weak, and the cobalt price has a lot of room to fall, and the demand is lower than expected. It is expected that the cobalt price will fluctuate and adjust at around 500,000 RMB/ton in the future.

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