In November, domestic cobalt prices fell in shock

According to the data monitoring of SunSirs, as of November 30, the average domestic cobalt price was 334,600 RMB/ton, down 2.36% from 342,700 RMB/ton on November 1; Compared with the cobalt price of 348,300 RMB/ton on October 30, it decreased by 3.93%. In November, the domestic cobalt price fell weakly in N-type.

The mobile phone market is not prosperous in the Christmas season

South Korean mobile phone giant Samsung cut its smartphone production in Vietnam for the second time this year, which is in sharp contrast to the traditional sales peak season before Christmas. During the period from October to November, Samsung plans to produce only 34 million smartphones. For the sales season before Christmas, there has been a sharp drop compared with the same period of previous years. Samsung also lowered its annual total smartphone production target from 334 million to 270 million to 280 million, and its shipment target from 300 million to 260 million. The annual shipment in 2022 is expected to be 13.3% lower than the mid year estimate. Samsung's smartphone shipments decreased, mainly due to the compression of the European and American consumer markets. Mobile phone market consumption is weak, Christmas consumption season is not strong, and demand for cobalt market is weak.

Ternary battery output and installed capacity

It can be seen from the chart of installed capacity and output of ternary batteries that in October, the output of ternary batteries in China was 24.2 GWh, accounting for 38.6% of the total output, with a year-on-year growth of 163.5% and a month on month decline of 0.2%; The loading of ternary batteries was 10.8GWh, accounting for 35.4% of the total, with a year-on-year increase of 55.2% and a month on month decrease of 3.5%; In October, the installed capacity and output of ternary batteries both declined month on month, the proportion of ternary batteries shrank, and the demand for cobalt market weakened.

The import of cobalt raw materials decreased sharply month on month

It can be seen from the data map released by the General Administration of Customs that in October 2022, China's cobalt raw material imports totaled 7,600 tons of metal tons, a sharp decrease of 28% month on month and a year-on-year increase of 41%. From January to October 2022, China's cobalt raw material imports totaled 84,900 tons of metal, up year-on-year. The import of cobalt raw materials increased year on year, and the supply of cobalt was sufficient. In October, the import of cobalt raw materials fell sharply month on month, the supply of cobalt market decreased month on month, and the price of cobalt had an upward momentum.

Overview and prospect

According to the data analysts of SunSirs, in terms of demand, the consumption of mobile phone market is weak, and the demand for ternary batteries is shrinking. In the middle of November, the demand rose in the short term after the national storage news was released; In terms of supply, the import volume of cobalt raw materials rose, and the supply of cobalt market was sufficient. In the future, the supply of cobalt market is sufficient and the demand is weak. It is expected that the cobalt market will shock weakly to stabilize in the future.

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