1、 Trend analysis

According to the data monitoring of the business agency, the price of cobalt rose for three days in a row this week, after which the price of cobalt fell in shock, and the market of cobalt was adjusted in shock this week. As of March 30, the price of cobalt was 250833.33 yuan / ton, down 1.95% compared with the average price of 255833.33 yuan / ton at the beginning of the week. This week, the market of cobalt was adjusted.

2、 Congo cobaltite production

The Democratic Republic of Congo will impose a 48 hour blockade on Haut Katanga (upper Katanga), a major copper and cobalt producing province, on Sunday.

Brazzaville, March 23 – Glencore’s KCC copper company in the Republic of Congo shut down 26 workers Monday, a union official said.

The blockade of cobalt by the DRC and the stoppage of Cobalt workers have a negative impact on the production of cobalt, and the supply of cobalt in the aftermarket is stable, forming a fog. Cobalt price has a certain upward momentum.

6、 Future prospects

According to Bai Jiaxin, a data analyst at business news agency, Congo blocked cobalt mines, and Glencore’s Cobalt projects also had workers shut down, which led to a decrease in cobalt supply and a decrease in global cobalt supply. Moreover, due to the weakness of Congo’s medical system, there is a greater risk of production suspension of cobalt mines in the future, which is expected to increase the risk of cobalt supply in the future, which has a certain positive impact on the rise of cobalt prices. This week, cobalt prices rose Affected by this message. However, the global economic environment is weak, the production and sales of new energy vehicles have declined sharply, the sales of 5g products such as mobile phones have declined sharply, and the demand of cobalt market has declined seriously. In the absence of clear evidence to show a sharp decline in cobalt supply, the cobalt market is still in oversupply, the driving force of cobalt price rise is insufficient, the cobalt price is not enough support, and the cobalt price fluctuates and falls.

On the whole, the demand of future cobalt market is not good, the rising power of cobalt market is insufficient, and the price of cobalt is difficult to keep rising. But at the same time, the supply risk of cobalt ore is relatively high. In the future, the short-term supply may be insufficient, which is good for cobalt market. It is expected that the price of cobalt in the future will fluctuate slightly, mainly to maintain stability.