The domestic cobalt price fluctuated and fell this week

According to data monitoring by Business News Agency, as of March 27, the cobalt price was 299300 yuan/ton, down 1.45% from 303700 yuan/ton on March 20. The price of lithium battery products fell, while the price of cobalt followed the decline.

Prices of lithium battery sector fell together

From the price trend table of lithium battery industry chain products, it can be seen that the prices of lithium battery industry chain products fell significantly in March. Lithium battery related metal nickel fell, lithium salt prices plummeted, and metal cobalt prices followed suit. The sales of new energy vehicles fell short of expectations, and the demand for cobalt in the market was poor, with insufficient support for the rise in cobalt prices.

Import of cobalt raw materials increased year-on-year

From the histogram of cobalt raw material import, it can be seen that in January and February 2023, the import of cobalt raw material increased year-on-year, and the import of cobalt raw material steadily increased. The supply of cobalt in the market is sufficient, and the downward pressure on cobalt prices in the future is increasing.

Overview and outlook

Bai Jiaxin, a data analyst at Business News, believes that the sales of mobile phones have plummeted, the sales of new energy vehicles have fallen short of expectations, the demand for cobalt in the market has fallen short of expectations, the import volume of cobalt in the market has increased year-on-year, and the supply of cobalt in the market is sufficient. Overall, the supply of cobalt in the future market exceeded demand, and the price of cobalt fluctuated and fell.