Cobalt prices fell slightly this week

According to the data monitoring of business agency, the domestic cobalt price fell slightly this week, and the cobalt market fell back. As of March 21, the average price of cobalt was 566300 yuan / ton, down 0.39% from 568500 yuan / ton on March 14 last week. On March 20, the cobalt commodity index was 203.85, unchanged from yesterday, down 14.67% from the highest point of 238.91 in the cycle (April 15, 2018), and up 191.88% from the lowest point of 69.84 on July 5, 2016. (Note: the period refers to the period from September 1, 2011 to now). The impact of cobalt price on the historical high is blocked, and the risk of cobalt price decline remains.

The international cobalt price rose slowly and violently this week

From the trend chart of LME cobalt price, it can be seen that the high level of LME cobalt price this week is temporarily stable, which is still good for the domestic cobalt market, and the price difference between domestic and foreign cobalt prices is weakened.

Domestic mobile phone shipments fell

According to the domestic mobile phone market data released by China Academy of communications and communications in February 2022, the domestic mobile phone shipment in February 2022 was 14.864 million, a year-on-year decrease of 31.7%. From January to February 2022, the total shipments of mobile phones in the domestic market totaled 47.886 million, a year-on-year decrease of 22.6%. Mobile phone sales fell sharply month on month, the demand of cobalt market was lower than expected, and the rising power of cobalt Market weakened.

Market Overview

Bai Jiaxin, a data analyst of business agency, believes that the sales of new energy vehicles fell slightly, the sales of mobile phones fell sharply, and the demand of cobalt market fell. This week, the high level of international cobalt price is stable, the price difference between domestic and foreign cobalt prices is weakened, the rising power of cobalt price is weakened, the domestic cobalt price is close to the historical high, the rise of domestic cobalt price is too fast, and the falling risk of domestic cobalt market still exists. Overall, the high demand still exists, the rising power of cobalt market is weakened, the domestic cobalt price rises too fast, and the risk of cobalt market decline still exists. It is expected that the cobalt price will rise slightly in the future.