Domestic cobalt prices fell on May 9

According to the data monitoring of business agency, the cobalt price fell on May 9, and the cobalt market fell. On May 9, the price of cobalt was 534300 yuan / ton, down 0.78% from 538500 yuan / ton on the previous trading day; Compared with the cobalt price of 540000 yuan / ton on May 1, it fell by 1.06%. After the festival, the cobalt price fell and the cobalt market fell.

Key points of analysis

The international cobalt price fluctuated and rose, with a large price difference at home and abroad; Tesla in Shanghai has resumed work and production, the installed capacity of ternary batteries is expected to rise, the demand of cobalt market is expected to pick up, the inflection point of the epidemic is not clear, the large-scale resumption of work and logistics transportation of enterprises have not been fully recovered, and the industrial chain of cobalt City is limited, and the supply and demand are both weak; The price rise of new energy vehicles was transmitted to the terminal, and the sales of new energy vehicles were lower than expected. The price of cobalt salt fell sharply, the metal cobalt fell affected, and the pressure of cobalt price decline increased.

Future forecast

The recovery of demand was lower than expected, the price of cobalt salt fell sharply, and the domestic cobalt price is expected to stabilize in the future.