The domestic cobalt price rose slightly this week

According to the data monitoring of the business community, as of September 20, the cobalt price was 346400 yuan/ton, up 0.87% from 343400 yuan/ton on September 12; The cobalt price fell 1.17% compared with that on September 1. Cobalt prices rose slightly this week. On September 20, the cobalt commodity index was 124.60, unchanged from yesterday, down 47.85% from the cycle’s highest point of 238.91 (2018-04-15), and up 78.41% from the lowest point of 69.84 on July 5, 2016. (Note: the cycle refers to 2011-09-01 to now).

It can be seen from the weekly histogram of cobalt price trend that the recent trend of cobalt price has risen and fallen, and the decline of cobalt market has eased. Since the cobalt price rose for three weeks in August, the cobalt market has started to recover. At the end of August and the beginning of September, the cobalt price fell rapidly for two consecutive weeks, and the overall recovery of the cobalt market has not come. However, after that, the cobalt price rose slightly, and the cobalt market showed signs of recovery.

The international cobalt price rose in shock this week

It can be seen from the MB cobalt price trend chart that the MB cobalt price rose slightly this week, the international cobalt price trend continued to rise, and the international cobalt market continued to be strong, supporting the domestic cobalt price to a certain extent.

Future outlook

Bai Jiaxin, a data analyst of the Business Agency, believes that the cobalt price rose slightly this week, and the cobalt market is on the rebound. Recently, lithium salt related enterprises started to adjust, cobalt salt prices rose slightly, and the supply and demand of cobalt market adjusted slightly, but it did not fundamentally change the supply and demand balance, and the support for cobalt price increase was limited; The international cobalt price remained strong. The MB cobalt price rose slightly in September, which was good for the domestic cobalt market. In general, the rise of international cobalt price and domestic cobalt salt price has a certain positive impact on the domestic cobalt market, but it has not broken the existing supply and demand balance of the cobalt market, and the trend of cobalt price is relatively stable. At the same time, the cobalt market is still short of interest in the near future, and the pressure on the cobalt price to fall is small. It is expected that the cobalt price in the future will fluctuate and consolidate.