Domestic cobalt prices stabilized after rising this week

ferric sulfate (Poly ferric sulphate)

According to the data monitoring of business society, affected by the sharp rise of international cobalt price, the domestic cobalt price continued to rise this week. After that, the cobalt price stabilized and the rise of cobalt Market slowed down. As of September 27, the cobalt price was 381200.00 yuan / ton, up 1.71% from 374800.00 yuan / ton on September 20 at the beginning of last week.

International cobalt prices rose sharply this week

time Category specification minimum price Rise and fall Highest price Rise and fall Company

September 17, 2021 Standard grade cobalt twenty-four point four five zero point two twenty-five zero point two five USD / lb

September 17, 2021 Alloy grade cobalt twenty-four point four five zero point two twenty-five zero point two five USD / lb

September 20, 2021 Standard grade cobalt twenty-four point six zero point one five twenty-five 0 USD / lb

September 20, 2021 Alloy grade cobalt twenty-four point five zero point zero five twenty-five 0 USD / lb

September 21, 2021 Standard grade cobalt twenty-four point nine five zero point three five twenty-five point two five zero point two five USD / lb

September 21, 2021 Alloy grade cobalt twenty-four point eight zero point three twenty-five point two five zero point two five USD / lb

September 22, 2021 Standard grade cobalt twenty-four point nine five 0 twenty-five point two five 0 USD / lb

September 22, 2021 Alloy grade cobalt twenty-four point nine zero point one twenty-five point two five 0 USD / lb

September 23, 2021 Standard grade cobalt twenty-five point one zero point one five twenty-five point five zero point two five USD / lb

September 23, 2021 Alloy grade cobalt twenty-five point one zero point two twenty-five point five zero point two five USD / lb

September 24, 2021 Standard grade cobalt twenty-five point two zero point one twenty-five point six zero point one USD / lb

September 24, 2021 Alloy grade cobalt twenty-five point two zero point one twenty-five point six zero point one USD / lb

From the data released by LME market, it can be seen that after the closing price of LME cobalt rose sharply this week, the cobalt price stabilized, the international cobalt Market stabilized, and the positive impact on the domestic cobalt Market slowed down. From the trend of MB cobalt price, it can be seen that MB cobalt price continued to rise this week, but the increase slowed down, and the international cobalt market rose, which was good for the domestic cobalt market, but the positive momentum weakened.

Influence of double control power rationing on cobalt Market

Recently, Jiangsu, Guangdong, Zhejiang, Anhui, Yunnan, Shandong, Liaoning and other places have introduced power restriction measures. The production of iron and steel, nonferrous metals, chemical industry, textile and other industries in many places has been affected to a certain extent, and production has been reduced or stopped one after another. The national double control large-scale power rationing has a great impact on the production of key energy consuming enterprises such as smelting, and non-ferrous smelting enterprises stop production and reduce production more.

The “power restriction order” in the three northeastern provinces and other places has spread from factories to residents’ lives. According to media reports, recently, many places such as Shenbei New District, Shenyang, Liaoning Province had a sudden “switch off and power failure”, which once led to traffic paralysis and affected residents’ lives. The power shortage has even affected residents’ lives. The growth of electric vehicles is bound to exacerbate the power shortage and increase the pressure on the power grid. In the case of such serious power rationing, it will discourage consumers from buying electric vehicles to a certain extent.

New energy vehicles with soaring costs

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Since 2021, the price of ternary materials has increased by 52%, the price of negative electrode materials has increased by 70%, the price of electrolyte has increased by 151%, the raw material cost of lithium battery has increased significantly, and the battery cost has basically increased by 17000 yuan! The price of the whole vehicle has increased by at least 5%. Under the dual influence of the continuous rise of raw material costs and the expansion of market share of new energy vehicle enterprises at this stage, in order to control costs, more vehicle enterprises choose to use lithium iron phosphate batteries. In August 2021, China’s lithium iron phosphate batteries accounted for 56.9% of the output of power batteries, which has greatly exceeded that of ternary batteries. The fundamental reason may be that the cost of lithium iron phosphate batteries can be reduced by 65% – 72% compared with ternary batteries. With the implementation of the “production restriction order”, the price of lithium iron phosphate battery also has an upward trend, and the supply of lithium iron phosphate has long been in an emergency. In the future, the proportion of ternary battery market is expected to slow down, and the demand for ternary battery is expected to rise slowly.

Market overview and future expectations

Bai Jiaxin, a data analyst at business news agency, believes that stimulated by the rise in international cobalt prices, domestic cobalt prices rose this week. Affected by double control power and production restriction, the domestic cobalt salt price continues to rise, and the rise of cobalt salt price drives the rise of metal cobalt price. However, in the future, with the intensification of power restriction, the commencement of non-ferrous smelting industry decreases, the output of cobalt market is expected to decline, and the power restriction intensifies or affects the sales of new energy vehicles. With the continuous rise of lithium iron phosphate price, the decline in the proportion of ternary battery market slows down, the demand for ternary battery is expected to rise slowly in the future, and the rising support of cobalt market still exists. Overall, the cobalt market has risen recently. It is expected that the cobalt price will stabilize before the festival, and the long-term cobalt price will rise slowly.

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