On March 8, the domestic cobalt price rose sharply

According to the data monitoring of business agency, the domestic cobalt price rose on March 8, and the cobalt market rose. On March 8, the price of cobalt was 575200 yuan / ton, up 2.06% from 563600 yuan / ton on the previous trading day; The cobalt market rose sharply and the price of cobalt rose.

Key points of analysis

The intensification of the conflict between Russia and Ukraine, the intensification of European sanctions against Russia, and the obstruction of Russian cobalt exports have stimulated the rise of cobalt prices, the rise of international cobalt prices and the increase of price differences at home and abroad; The price of nickel soared in London, the high nickel of ternary battery was limited, the demand for cobalt may rise slightly, the consumption of new energy vehicles increased, the demand growth of cobalt market exceeded expectations, the output of ternary battery increased year-on-year, the sales of mobile phones increased month on month, the demand of cobalt market increased strongly, and the rising power of cobalt market increased. Cobalt prices rose too fast, and the risk of future decline remains.

Future forecast

Demand exceeded expectations, cobalt supply was expected to decrease, and the price of cobalt was expected to rise in the future.