I. trend analysis

According to the data monitoring of the business agency, the domestic cobalt price has been adjusted in the near future, and the rising power of the cobalt market is insufficient. As of October 27, the price of cobalt was 285000.00 yuan / ton, down 5.11% from the average price of 300333.34 yuan / ton on October 1, up 2.03% from October 19. Overall, the recent adjustment of cobalt Market Volatility, cobalt price wide volatility and stability.

II. Market analysis

LME spot cobalt price

It can be seen from the figure that the spot cobalt price of LME will maintain stability after weakening in the near future, the overall trend of the international cobalt market will be weak, and the driving force for the rise of cobalt price will be insufficient, but at the same time, due to the influence of the cost of cobalt and the relationship between supply and demand in the future, the international cobalt price will fall in a limited space, and the international cobalt price will fluctuate and maintain stability. In the future, the domestic cobalt price is lack of power, and the shock adjustment may increase.

LME market March future cobalt price

It can be seen from the figure that the March futures cobalt price in LME market keeps stable after rising all the way, the international cobalt market is still optimistic about the future market, and the cobalt price remains strong. However, due to the poor performance of demand side such as new energy vehicles at this stage, the rise of cobalt market is limited, and the high price of cobalt has maintained stability.

III. future prospects

Bai Jiaxin, a data analyst at the business club, believes that the international cobalt market has remained stable in the near future, with insufficient impetus for the rise of cobalt price and limited space for the fall, which is generally high and stable. For the future market, cobalt market is still optimistic, and there is still room for cobalt price to rise. However, due to the poor demand performance of cobalt Market in the near future, the rising power of cobalt Market in the short term is insufficient and there is some downward pressure, and the future market of cobalt price is still dominated by shock adjustment. On the whole, the rising power of cobalt market is insufficient, and the falling pressure still exists. It is expected that the wide range adjustment of cobalt price in the future will be dominated.