SunSirs: Summary of Domestic Cobalt Market Trends on March 7th

Price trend

On March 7th, the domestic price of cobalt metal was 181,000-230,000 RMB/ton, with a significant increase in price and a sharp rise in the cobalt market.

Analysis review

The production and sales of ternary batteries have grown slowly, while the demand for cobalt in the market remained stable; The export of cobalt in the Democratic Republic of Congo has been banned, leading to a decrease in the supply of cobalt raw materials. The government of the Democratic Republic of Congo planned to introduce a cobalt export quota system, resulting in a tight supply in the cobalt market; The tight supply of cobalt salts has led to an increase in cobalt salt prices and lithium cobalt oxide prices, which was highly favorable for the cobalt market; The rise in international cobalt prices had a significant positive impact on the domestic cobalt market; The overall cobalt market has seen an increase in upward momentum and a decrease in downward pressure.

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