Cobalt price trend on November 16

On November 16, the domestic cobalt price was temporarily stable


According to the data monitoring of business agency, the domestic cobalt price rose on November 16, and the cobalt market recovered. On November 16, the cobalt price was 423900 yuan / ton, which was temporarily stable compared with the cobalt price on the previous trading day (November 15), and decreased by 0.56% compared with the cobalt price of 426300 yuan / ton on November 12; Compared with the cobalt price of 423900 yuan / ton on November 11, it is temporarily stable.

Cobalt Market Analysis

In October 2021, the power battery output and installed capacity reached 25.1gwh and 15.4gwh respectively; In terms of cobalt intermediate products, the signing of long-term cobalt intermediate products agreement is still not ideal, based on the fact that the global cobalt inventory tension will be relieved in 2022 and the current high price and lower downstream acceptance. The production and sales of new energy vehicles increased, the production and sales of ternary batteries increased, and the installed proportion of ternary batteries decreased month on month; International cobalt prices rose slowly; New energy vehicle enterprises increase orders for lithium batteries, and ternary batteries are expected to break out in 22 years.

Market Overview

Bai Jiaxin, a data analyst of the business society, believes that the supply and demand balance of the cobalt market is still in the near future, and the market is dominated by rational investment. There is no room for the sharp rise and fall of the cobalt price. The high copper price increases the enthusiasm of mining enterprises for copper and cobalt mining, and the cobalt supply increases. With the advent of the off-season of the copper market, the cobalt supply may decline slightly. In the future, the sales volume of new energy vehicles is expected to burst in 22 years, the demand of cobalt market is expected to rise sharply, the supply growth is limited, the demand is expected to rise, the driving force of cobalt price rise is large, and the cobalt price is expected to rise in the future.

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