Domestic cobalt price finally rises

According to the monitoring data of the business association, the cobalt price on June 18 was 349666.66 yuan / ton, and the cobalt price rose 7000 yuan / ton on a single day. Since June, the domestic cobalt price has been falling continuously, and the domestic cobalt market has been weak. On the 18th, the cobalt price rebounded sharply, stimulating the related trading tide in the domestic stock market.

Domestic lithium battery concept board trading tide

According to the closing news of Shanghai and Shenzhen stock markets, most of the industry sectors in Shanghai and Shenzhen stock markets closed higher on the 18th, and lithium battery concept stocks set off a tide of trading. Cobalt related stocks, such as Huayou cobalt industry and Hanrui cobalt industry, have changed the weak trend since June, and the stocks have risen sharply.

Market Overview

Bai Jiaxin, data analyst of business news agency, believes that since June, the cobalt market has been weak, the cobalt price has been falling continuously, and the weak performance of cobalt price has dragged down the stock market, and the cobalt related stocks have fallen sharply in June. On the 18th, cobalt prices rose sharply, stimulating the stock market to rebound. Lithium battery plate showed a rising tide, and cobalt related stocks also rose correspondingly. In the future, the rapid growth of new energy vehicles is conducive to the rebound of cobalt price, but the poor performance of 3C products such as mobile phones is a drag on the performance of cobalt market. The overall demand of cobalt market is lower than expected. On the supply side, affected by the epidemic, the cost of cobalt mining and transportation increases, the cost of cobalt increases, and the supply of cobalt declines slightly. It is expected that the cobalt market will recover slightly in the future. The stock market may follow the rise, but it is not suitable to catch up.