Cobalt prices rose sharply after the festival

 

Thiourea

According to the data monitoring of business society, the domestic cobalt price rose sharply after the festival, and the cobalt market rose. As of February 14, the average price of cobalt was 529700 yuan / ton, up 5.43% from 502400 yuan / ton on February 1 at the beginning of the month. The off-season of new energy vehicles is not light, and the price of cobalt rose sharply after the festival.

 

Rising international cobalt prices

 

Time Category specification . minimum price. Rise and fall . The highest price Up and down Company

February 4th . Standard grade cobalt . thirty-four point three . 0 . thirty-four point eight . 0 . USD / lb

February 4 Alloy grade cobalt . thirty-four point three . 0 . thirty-four point eight . 0 USD / lb

February 7 Standard grade cobalt thirty-four point three . 0 . thirty-four point eight . 0 . USD / lb

February 7th . Alloy grade cobalt thirty-four point three . 0 . thirty-four point eight . 0 . USD / lb

February 8 Standard grade cobalt thirty-four point four . 0.1. thirty-four point eight . 0 . USD / lb

February 8 Alloy grade cobalt thirty-four point four . 0.1. thirty-four point eight . 0 . USD / lb

February 9 Standard grade cobalt thirty-four point four . 0 . thirty-four point eight . 0 . USD / lb

February 9 Alloy grade cobalt thirty-four point four . 0 . thirty-four point eight . 0 . USD / lb

February 10 Standard grade cobalt thirty-four point five . 0.1. thirty-five zero point two . USD / lb

February 10 Alloy grade cobalt . 34.5. zero point one . thirty-five zero point two . USD / lb

February 11 Standard grade cobalt . thirty-four point five . 0 thirty-five 0 . USD / lb

February 11 Alloy grade cobalt . thirty-four point five . 0 thirty-five 0 USD / lb

From the MB cobalt price list, it can be seen that after the festival, the LME cobalt price resumed to rise, and the international electrolytic cobalt price rose, which was good for the domestic cobalt Market and increased the rising power of the domestic cobalt market.

 

New energy vehicles are not light in the off-season

 

From past experience, affected by the Spring Festival holiday and the superposition of manufacturers’ impulse factors in December of the previous year, January is usually the off-season for the sales of new energy vehicles. Moreover, due to the decline of subsidies in 2022, the consumption of new energy vehicles is expected to decline significantly. However, from the perspective of sales this year, the off-season of the new energy vehicle market in January was not light, and new energy brands such as BYD, GAC AIAN and Xiaopeng achieved sales growth in January. BYD, for example, sold 92900 new energy vehicles in January, second only to 93945 in December last year, ranking second in the monthly sales list in history. The sales of new energy vehicles exceeded expectations, the demand of cobalt market increased, and the rise of cobalt price supported greatly.

 

Market Overview

 

Bai Jiaxin, a data analyst of business agency, believes that the off-season of new energy vehicles is not light, the rising demand of cobalt Market stimulates the sharp rise of domestic cobalt price, and the compound rise of MB cobalt price is good for the domestic cobalt market. In the future, the demand growth of cobalt market exceeded expectations, the support for the rise of cobalt price increased, and the shock rise of cobalt price in the future.

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