SunSirs: Summary of Domestic Cobalt Market Trends on November 6th
November 07 2024 15:06:36 SunSirs (John)
Price trend
On November 6th, the domestic price of cobalt metal was 161,000-191,000 RMB/ton, with fluctuating and stabilizing prices, and the cobalt market fluctuated and stabilized.
Analysis review
The production and sales volume of ternary batteries were slowly increasing; Emerging markets such as digital wearables were growing slowly, while demand in the cobalt market remained stable; the import of cobalt raw materials was stable and supply in the cobalt market was sufficient; The recovery of cobalt salt supply led to a volatile decline in cobalt salt prices and a decrease in lithium cobalt oxide prices, resulting in a weak decline in the cobalt market; The weak consolidation of international cobalt prices still posed a negative impact on the domestic cobalt market; The overall upward momentum of the cobalt market still existed, and the downward pressure had weakened.
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