SunSirs: On March 19th, the Domestic Cobalt Market Experienced Weak Consolidation

Price trend

On March 19th, the domestic price of cobalt metal was 224,000-273,000 RMB/ton, with a weak decline in price and a weak decline 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 supply of cobalt salts was tight, the price of cobalt salts was stabilizing, and the price of lithium cobalt oxide was strong and stable, which still had positive effects on the cobalt market; The international cobalt price was stabilizing, and there were still positive factors for the domestic cobalt market; The overall upward momentum of the cobalt market still existed, and the downward pressure has weakened.

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