According to the data monitoring of SunSirs, the cobalt price fell on May 9, and the cobalt market fell. On May 9, the cobalt price was 534,300 RMB/ton, down 0.78% from the previous day’s cobalt price of 538,500 RMB/ton; and it was down 1.06% from the price of 540,000 RMB/ton on May 1. Cobalt prices fell after the holiday, and the cobalt market fell.
Analysis review
The international cobalt price fluctuated and rose, and the price difference between domestic and foreign prices was large; Tesla in Shanghai resumed work and production, the installed capacity of ternary batteries was expected to increase, and the demand for cobalt market was expected to pick up.
However, the inflection point of the epidemic is not yet clear, the large-scale resumption of work and logistics and transportation of enterprises have not yet fully recovered, and the cobalt market industry chain is limited by both supply and demand; the price increase of new energy vehicles is transmitted to the terminal, and the sales of new energy vehicles are lower than expected.
The price of cobalt salt fell sharply, and the metal cobalt was affected and fell, and the pressure on the decline of cobalt price increased.
Market outlook
The recovery of demand was lower than expected, and the price of cobalt salt fell sharply. It is expected that the domestic cobalt price fluctuates and stabilizes in the market outlook.
