SunSirs: Summary of Domestic Cobalt Market Trends on November 12th
November 13 2024 10:44:26 SunSirs (John)
Price trend
On November 12th, the domestic price of cobalt metal was 166,000-191,000 RMB/ton, with an increase in price and a rise in the cobalt market.
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; Stable import of cobalt raw materials and sufficient supply in the cobalt market; The supply of cobalt salt had recovered, and the price of cobalt salt had fluctuated and risen. The price of lithium cobalt oxide had stabilized, which was a strong and stable trend for the cobalt market; The international cobalt price fluctuated and consolidated, weakening the bearish sentiment on the domestic cobalt market; The overall cobalt market had seen an increase in upward momentum and a decrease in downward pressure.
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