Cobalt prices fell slowly this week

According to the monitoring data of the business agency, the decline of cobalt Market slowed down this week, and the cobalt price fell violently. As of June 20, the cobalt price was 426800 yuan / ton, down 1.79% from 434600 yuan / ton on June 12 last week; Compared with the cobalt price of 445500 yuan / ton on June 1, it fell by 4.20%. Cobalt prices fell slightly this week, and the decline of cobalt Market slowed down.

Weekly rise and fall chart of cobalt price

It can be seen from the weekly trend chart of cobalt price of business club that since March, the cobalt price has fallen sharply, and the cobalt market has continued to weaken. Since June, the weekly rise and fall of cobalt price has narrowed significantly, the decline of cobalt price has slowed down, and the cobalt market has stabilized.

Price rise and fall of lithium battery

It can be seen from the price rise and fall of the lithium battery sector of the business club that in recent January, the products in the lithium battery sector have obviously stopped falling and rising, the prices of lithium related products such as lithium carbonate and lithium hydroxide have stopped falling and rising, the decline of nickel and cobalt prices has narrowed, the market of new energy vehicles has warmed up, the demand for lithium batteries has risen, and the prices of related products in the lithium battery sector have obviously stopped falling and rising.

Market Overview

Baijiaxin, a data analyst of the business agency, believes that with the continuous promotion of the resumption of work and production, the production and sales of the new energy automobile industry chain have risen, the decline of lithium battery related products has stopped and the demand of the cobalt market has recovered. The international cobalt price has fallen sharply, the supply of cobalt raw materials is sufficient, the oversupply of cobalt in the cobalt market has not fundamentally changed, and the room for cobalt price rise is limited. Generally speaking, the demand of cobalt market recovers, the decline of cobalt price slows down, and it is expected that the volatility of cobalt price will stabilize in the future.