This week, cobalt prices fluctuated and rose

According to the data monitoring of business agency, the cobalt price fluctuated and rose this week. As of August 15, the cobalt price was 332700 yuan / ton, an increase of 4.92% over the cobalt price of 317100 yuan / ton on August 8 at the beginning of the week. Stimulated by the news of cobalt purchase and storage, the cobalt price surged this week.

Cobalt market demand declines

According to the data of China Automobile Association, in July, the production and sales of new energy vehicles were 617000 and 593000 respectively, an increase of 1.2 times year-on-year. From January to July, the production and sales of new energy vehicles were 3.279 million and 3.194 million respectively, with a year-on-year increase of 1.2 times. In July, China’s power battery loading volume was 24.2gwh, with a year-on-year increase of 114.2% and a month on month decrease of 10.5%. Among them, the loading volume of ternary batteries was 9.8gwh, accounting for 40.7% of the total loading volume, with a year-on-year increase of 80.4% and a month on month decrease of 15.0%; The loading capacity of lithium iron phosphate battery was 14.3gwh, accounting for 59.3% of the total loading capacity, with a year-on-year increase of 147.2% and a month on month decrease of 7.0%. It can be seen from the data released by the China Automobile Association that new energy vehicles still maintain high-speed growth, and the demand of cobalt market rises slowly. However, from the installed capacity of power batteries, it can be seen that the installed capacity of power batteries decreased month on month in July, and the demand growth of cobalt market was less than expected. However, the decline rate of the installed capacity of ternary batteries was significantly faster than the decline rate of the installed capacity of lithium iron phosphate batteries, and the demand of cobalt market is expected to decline.

Market Overview

Bai Jiaxin, a data analyst of business news, believes that the cobalt price has risen sharply this week, stimulated by the purchase and storage news, but the demand growth in the cobalt market is not as expected, the demand in the cobalt market is declining, the support for the increase in the cobalt price is insufficient, and the cobalt price is falling rapidly. However, the state’s collection and storage of cobalt has led to a serious shortage of supply in the cobalt market. Before the year, the social inventory in the cobalt market is expected to decline seriously. Moreover, the cobalt price of 300000 yuan / ton has approached the low level of cobalt price in the past 18 years, and there is limited room for the decline of cobalt price. In the future, the demand of cobalt is declining and the supply is insufficient, and the cobalt price is expected to rise slightly.