Domestic cobalt price rose on February 21

According to the data monitoring of business agency, the domestic cobalt price rose on February 21, and the cobalt market picked up. On February 21, the price of cobalt was 542000 yuan / ton, up 1.19% from 535600 yuan / ton on the previous trading day; The cobalt market recovered and the cobalt price rose sharply.

Key points of analysis

The international cobalt price has risen, and the price difference between domestic and foreign countries is large; The consumption growth of new energy vehicles exceeded expectations, the demand growth of cobalt market exceeded expectations, the high level of mobile phone market remained stable, the demand of cobalt market was strong, and the rising power of cobalt market was large. Cobalt prices rose too fast, and the risk of future decline remains.

Future forecast

Demand exceeded expectations, cobalt prices rose sharply, cobalt prices rose too fast, and downward pressure remained in the future. Cobalt prices are expected to stabilize strongly in the future.