Cobalt prices rose slightly this week

According to the data monitoring of business agency, the domestic cobalt price rose slightly this week, and the cobalt market rose. As of March 14, the average price of cobalt was 568500 yuan / ton, up 0.87% from 563600 yuan / ton on March 7 last week. On March 13, the cobalt commodity index was 203.06, unchanged from yesterday, down 15.01% from the highest point 238.91 in the cycle (2018-04-15), and up 190.75% from the lowest point 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 limited, and the risk of cobalt price decline remains.

The international cobalt price fluctuated and rose this week

As can be seen from the trend chart of MB cobalt price, MB cobalt price rose sharply this week, the price of international standard cobalt rose sharply, the domestic cobalt market was good, the increase of international cobalt price increased, and the international cobalt market was good for the domestic cobalt market.

Sales of new energy vehicles fell

According to the data released by China Automobile Association, in February, China’s production and sales of new energy vehicles completed 368000 and 334000 respectively, with a year-on-year increase of 2.0 times and 1.8 times respectively. According to the data of the travel Federation, the wholesale sales of new energy passenger vehicles in China reached 317000 in February, with a year-on-year increase of 189% and a month on month decrease of 24%, which is less than that in previous years. In February, the retail sales volume of new energy passenger vehicles reached 272000, with a year-on-year increase of 181% and a month on month decrease of 23%. The month on month decrease was better than that in February. The sales volume of new energy vehicles decreased month on month, the demand for new energy vehicles decreased, the demand of cobalt market fell, 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 and the demand of cobalt market fell. This week, the international cobalt price rose sharply, the price difference between domestic and foreign cobalt prices still exists, the driving force of cobalt price rise is large, the domestic cobalt price is close to the historical high, the domestic cobalt price rise is too fast, and the risk of decline in the domestic cobalt market still exists. Generally speaking, the demand growth has a strong upward momentum in the cobalt market. The domestic cobalt price rises too fast, and the risk of decline in the cobalt market remains. It is expected that the cobalt price will rise slightly in the future.