The domestic cobalt price rebounded slightly

According to the data monitoring of the business community, as of November 14, the average domestic cobalt price was 344700 yuan/ton, up 3.14% from 334200 yuan/ton on November 7; Compared with the cobalt price of 342700 yuan/ton on November 1, the cobalt price increased slightly by 0.58%. In November, the cobalt price fell first and then rose, and the overall domestic cobalt price rebounded slightly. The corresponding decline in the international cobalt price remains.

MB Cobalt Price

It can be seen from the MB cobalt price trend chart that the MB cobalt price continued its decline in October in November. As of November 11, the average price of standard cobalt was 22.475 dollars/pound, down 2.525 dollars/pound from the standard cobalt price of 25 dollars/pound on November 1; On November 11, the average price of alloy grade cobalt was US $24.875/lb, down US $1.375/lb from the average price of alloy grade cobalt of US $26.25/lb on November 1. The international cobalt price fell sharply, and the decline in the cobalt market remained.

Overview and prospect

Bai Jiaxin, a data analyst from the business community, believes that domestic consumption in November is expected to be good for the domestic cobalt market. Mobile phone consumption accounts for a high proportion of mobile phone consumption during the Double 11 Festival, and mobile phone consumption has stimulated the demand in the cobalt market. Recently, lithium cobalate is the only one in cobalt salt (most cobalt salt prices have fallen, while lithium cobalate prices have risen slightly). However, the domestic consumption stimulus has little impact on the international market. Recently, the supply and demand of the cobalt market have limited changes, and the decline of the international cobalt price remains unchanged. In the future, although the sales of new energy vehicles have reached new highs, lithium iron phosphate battery has greatly occupied the ternary battery market, and the demand in cobalt market is less than expected. In the short term, mobile phone consumption has stimulated the growth of cobalt market demand, but this kind of stimulus is even more unsustainable. It is expected that the future cobalt price will fluctuate and become stable.