Recovery of demand is difficult to support the rise of cobalt price

Trend analysis



According to the data of business agency, the price of cobalt fell in November, and the market of cobalt Market weakened. As of November 16, the cobalt price was 267500.00 yuan / ton, down 0.43% from 268666.66 yuan / ton at the beginning of the month (November 1).


Domestic mobile phone production and sales data


According to the statistics of China mobile phone market, the total number of domestic mobile phone sales decreased by 0.261-2.21 billion in the year-on-year basis. In October, domestic mobile phone sales rose on a month on month basis, but fell sharply year-on-year. The demand for cobalt market recovered, but it was still not enough to support the rise of cobalt price.


Domestic new energy vehicle market


According to the statistical data of CAAC, in October, the production and sales of new energy vehicles were 167000 and 160000, respectively, up 69.7% and 104.5% year-on-year. From January to October, the production and sales of new energy vehicles were 914000 and 901000, respectively, down 9.2% and 7.1% year-on-year. From July to October, the production and sales of new energy vehicles broke the historical records of the month in April, and the sales volume of new energy vehicles continued to rise in a single month, and the market of new energy vehicles recovered. However, the production and sales of new energy vehicles in the whole year still fell sharply year on year, and the recovery of new energy vehicle market was not enough to support the recovery of cobalt price.


Market Overview


Bai Jiaxin, data analyst of business agency, believes that mobile phones rose month on month in October, new energy vehicle sales rose sharply, and cobalt market demand recovered. However, in the global market, affected by the epidemic situation, the sales of major mobile phones and new energy vehicles in Europe and the United States dropped sharply, and the overall demand of cobalt market declined. The recovery of domestic cobalt market demand is difficult to change the overall market trend of weak global cobalt market demand, and the rising motivation of cobalt price is insufficient.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>