Price trend

According to the data monitoring of SunSirs, the cobalt market has stabilized after falling this week, and the cobalt price has stabilized in a weak manner. As of May 23, the average cobalt price was 495,900 RMB/ton, down 2.86% from the cobalt price of 510,500 RMB/ton on May 16 at the beginning of last week, and down 8.17%t from the May 1 cobalt price of 540,000 RMB/ton. Both supply and demand in the cobalt market were weak, and the price of cobalt hs stabilized after falling this week.

Analysis review

Ternary battery production declined

In April, China's ternary battery output was 12.6GWh, a month-on-month decrease of 27% and a year-on-year increase of 55%; in April, China's waste lithium battery recycling was 19,421 tons, a month-on-month increase of 1.2% and a year-on-year increase of 31%. In April, China's anode material output was 101,500 tons, a month-on-month increase of 15% and a year-on-year increase of 69%. Recently, the market demand for cobalt salts, ternary and lithium cobalt oxide has been sluggish, and the purchase was mainly based on rigid demand. The inventory of downstream enterprises as low, the demand in the cobalt market was sluggish, and the cobalt market had insufficient upward momentum and great downward pressure.

International cobalt prices fell

It can be seen from the MB cobalt price table that the MB cobalt price fluctuated slightly this week, the international cobalt price fell, and the cobalt market fell. The negative situation for the domestic cobalt market has increased, and the downward pressure on domestic cobalt prices has increased.

Market outlook

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

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