On March 16, the domestic cobalt price fell

According to the data monitoring of business agency, the domestic cobalt price fell on March 16, and the cobalt market fell. On March 16, the price of cobalt was 553500 yuan / ton, down 2.33% from 566700 yuan / ton on the previous trading day; The cobalt market fell, and the cobalt price fell.

Key points of analysis

The rise of international cobalt price slowed down, LME cobalt price fell, and the price difference at home and abroad weakened; The consumption of new energy vehicles increased, the sales volume of new energy vehicles decreased month on month, the demand growth rate of cobalt market fell, the output of ternary battery increased year-on-year, the demand of cobalt market remained strong, and the rising power of cobalt market remained. Cobalt prices rose too fast, and the risk of future decline remains.

Future forecast

The international cobalt price fell, the price difference between domestic and foreign cobalt prices weakened, the cobalt price rose too fast, and the risk of decline still exists. It is expected that the future cobalt price will stop falling and rise in shock.