Domestic cobalt price fell on June 1

According to the data monitoring of the business agency, the cobalt price fell on June 1, and the cobalt market continued to decline. On June 1, the cobalt price was 445500 yuan / ton, down 0.87% from 449400 yuan / ton on the previous trading day. The cobalt price continued its decline in May, and the cobalt market recovered indefinitely.

Key points of analysis

Cobalt price in LME market fell, MB cobalt price fell, international cobalt price fell, and the price difference at home and abroad weakened; The output of ternary batteries declined, and the demand of cobalt market was less than expected. Tesla and other new energy vehicle manufacturers resumed production, but the overall output has not yet recovered to the previous level. The inflection point of the epidemic is not yet clear. Enterprises have not fully recovered from large-scale resumption of work and logistics transportation. Mobile phone sales have fallen sharply, and the demand of cobalt market has fallen, and the recovery of short-term demand is less than expected. The price of cobalt salt fell sharply, the metal cobalt fell affected, and the pressure of cobalt price decline increased.

Aftermarket forecast

It is difficult to recover from the decline in demand, and the pressure on the cobalt price to fall is large. It is expected that the cobalt price will be adjusted by weak shocks in the future.

Price trend of domestic sodium pyrosulfite

According to the monitoring of business agency, the price of domestic sodium pyrosulfite continued to rise in May. The average price of industrial grade sodium pyrosulfite was 2816.67 yuan / ton on May 1 and 3166.67 yuan / ton on May 31, up 12.43% in the month.

Supported by the rising prices of upstream raw materials, in May, domestic sodium pyrosulfite manufacturers successively raised the factory price of sodium pyrosulfite, driving the domestic market price of sodium pyrosulfite to continue to rise. In late May, the domestic industrial sodium pyrosulfite market price ranged from 3000 to 3400 yuan / ton, and most prices were concentrated around 3200 yuan / ton.

In May, the price of domestic soda ash continued to rise, with an overall increase of 6.05% in the month. The price of sulfur continued to rise, with an increase of 12.73% in the month. The price of upstream raw materials continued to rise. The cost will further support the domestic sodium pyrosulfite market price in the future.

Aftermarket forecast

According to the analysts of business agency, under the dual support of cost and demand, it is expected that the overall domestic sodium pyrosulfite market price in June will continue to operate stably, moderately and strongly.