Cobalt prices continued to rise this week

According to the data monitoring of business society, the domestic cobalt price rose sharply this week, and the overall cobalt market fluctuated and rose. As of December 7, cobalt price was 465100 yuan / ton, up 3.38% from 449900 yuan / ton on December 1 at the beginning of the month; Compared with the price of 441100 yuan / ton at the beginning of last week, the price of cobalt increased by 5.44%. Cobalt prices continued to rise sharply this week, and the cobalt market recovered.

The rise of international cobalt prices slowed down

According to the LME trend chart, the recent LME international cobalt price continued to rise. In December, the LME cobalt price continued to rise. On December 6, the cobalt price fell slightly, the rise of the international cobalt price slowed down, which weakened the positive impact on the domestic cobalt market, and the overall domestic cobalt price rising power fell slightly.

Cobalt prices hit a new high in three years

According to the data monitoring of business society, the cobalt price has continued to rise since mid November. As of December 6, the average price of cobalt was 465100 yuan / ton, a new high since November 2008.

The impact of the epidemic in South Africa is lower than expected

Anthony Fauci, director of the National Institute of allergy and infectious diseases and chief medical adviser of the White House, said on Sunday (December 5) that Omicron’s preliminary data were “a little exciting” in terms of toxicity. Earlier data from South Africa showed that the mutant strain may not be as bad as initially feared. Preliminary observations of people infected with Omicron toxicity in South Africa showed that the patient had only mild symptoms. The epidemic situation was lower than expected, the transportation of the epidemic situation to South Africa was lower than expected, the concerns about the reduction of cobalt supply were alleviated, and the positive effect of cobalt price was weakened.

Market Overview

Bai Jiaxin, a data analyst at the business agency, believes that the recent rise in international cobalt prices has stimulated the rise in the domestic cobalt market, and the domestic cobalt price has reached a record high since November 18; The rising trend of international cobalt price slowed down, and the rising support of domestic cobalt Market weakened; The impact of the epidemic in South Africa was lower than expected, and the fear of supply shortage in cobalt city was alleviated. Overall, the supply shortage of cobalt market is alleviated, the demand is still strong, and the rising power of cobalt price is weakened. It is expected that the future cobalt price will fluctuate and rise, with a short-term decline risk.