Cobalt prices rose slightly after the festival

According to the data monitoring of business society, the domestic cobalt price stabilized after a slight rise after the festival, and the cobalt market was blocked in entering the 5 era. As of January 10, the average price of cobalt was 498700 yuan / ton, up 1.28% from 492400 yuan / ton on January 1 at the beginning of the month. As can be seen from the weekly histogram of the rise and fall of cobalt price of business society, the cobalt price rose by 1.14% this week, the rise of cobalt price slowed down this week, the cobalt price continued to rise, the cobalt market was at a high level, and the high drop risk of cobalt price was high. After January 5, the cobalt price stabilized, the rising power of the cobalt Market weakened, and the cobalt price broke through five.

International cobalt price stabilizes

As can be seen from the trend chart of LME cobalt price, LME cobalt price is temporarily stable after the festival, the rise of international electrolytic cobalt price slows down, and the rising power of domestic cobalt market is weak.

Market Overview

Bai Jiaxin, a data analyst at business news agency, believes that the sales of new energy vehicles are still booming, mobile phone sales have continued to rise sharply and have a take-off trend, the demand of cobalt market is still strong, the Spring Festival is approaching, downstream customers are facing holiday shutdown, and the demand growth of cobalt market is limited in January; On the supply side, the epidemic in South Africa has basically ended, the transportation of cobalt raw materials has returned to normal, and the supply of cobalt in the city has increased. Overall, the supply of cobalt recovered, the demand was high but the growth was limited, and the pressure of cobalt price breaking 5 was great. It is expected that the high cobalt price before the festival will be adjusted by shock.