On October 13, the domestic cobalt price fell

According to the monitoring data of business agency, the domestic cobalt price fell on October 13. After the sharp rise of cobalt price for three consecutive trading days after the festival, the cobalt price fell on October 13. On October 13, the cobalt price was 394200 yuan / ton, down 1.00% from the cobalt price of 398200 yuan / ton on October 12 of the previous trading day; Compared with the price of 381600 yuan / ton on October 1 at the beginning of the month, the price of cobalt increased by 3.30%. Cobalt prices broke the 400000 mark and were blocked.

The rise of international cobalt price slowed down

According to the trend chart of LME cobalt price, the cobalt price in LME market was stable in October, the high level of international cobalt price was stable in October, the high level support of domestic cobalt market still existed, and the rising power of cobalt price was insufficient.

As can be seen from the trend chart of MB cobalt price, during the national day, the cobalt price in the international market continued to rise. In October, the international cobalt price rose for seven consecutive trading days, and the international cobalt price rose continuously, stimulating the rise of domestic cobalt price; After October 8, the rising trend of MB cobalt price slowed down, the cobalt price was stable on October 11 and 12, the rising trend of international cobalt price was no longer, the rising support of domestic cobalt market was insufficient, and the domestic cobalt price fell slightly.

Market Overview

Bai Jiaxin, a data analyst of business society, believes that affected by the continuous rise of international cobalt prices, the domestic cobalt market rose after the festival, and once the domestic cobalt price wanted to break the 400000 yuan mark. However, with the stability of international cobalt prices, the rise of domestic cobalt market lost support, the cobalt price fell slightly, and the cobalt price broke the 40 mark was blocked. In the long run, the demand of new energy vehicle industry is increasing vigorously, the demand of cobalt market is still growing, and the rising power of cobalt market still exists. It is expected that the long-term fluctuation and rise of cobalt price in the future will be dominated by the stability of cobalt price in the short term.