Trend analysis
According to the business agency data monitoring: the recent performance of the cobalt market is general, the price of cobalt fluctuates and falls. As of October 27, the cobalt price was 270333.34 yuan / ton, down 1.58% from 274666.66 yuan / ton at the beginning of the month (October 1), and 0.92% lower than that at the end of last week (October 18).
Domestic mobile phone production and sales data
According to the data of China Academy of communications and communications, in September 2020, the total volume of domestic mobile phone market was 23.334 million, a year-on-year decrease of 35.6%; from January to September, the total volume of domestic mobile phone market was 226 million, a year-on-year decrease of 21.5%. Mobile phone sales fell sharply, cobalt market demand plummeted, cobalt market favorable pressure.
Import data of cobalt raw materials
According to the latest data from the customs website, in September 2020, China imported 26700 physical tons of cobalt raw materials, equivalent to 6700 tons of metal tons, with a decrease of 27% on a month on month basis and a decrease of 32% on a year-on-year basis; the import of 5305 physical tons of cobalt concentrate, equivalent to 424 metal tons, was basically flat on a month on month basis, with a year-on-year decrease of 65%. From January to September 2020, China’s total import of cobalt raw materials was 61200 tons of metal tons, a year-on-year decrease of 2%. From January to September, the import volume of cobalt raw materials decreased slightly, and the supply of cobalt decreased slightly. The import data in September dropped sharply. The domestic cobalt market demand was poor, and the domestic cobalt traders were generally enthusiastic about importing.
Market Overview
According to Bai Jiaxin, a data analyst of business agency, the sales of mobile phones dropped sharply in September, and the demand of cobalt market dropped obviously, and the pressure of cobalt market was great; from January to September, the import quantity of cobalt raw materials fell, and the market of cobalt Market weakened, and the downward pressure of cobalt market was greater; in September, the import quantity of cobalt raw materials fell sharply, and the cobalt market was greatly de stocked in September, so the cobalt market supply decreased, and the cobalt price in the future market had certain upward momentum. Generally speaking, the demand of cobalt market has fallen in recent years, and the market of cobalt market has weakened. However, with the decrease of inventory and supply of cobalt market, the future cobalt market has certain upward momentum support, and it is expected that the future cobalt price will fluctuate and maintain stability.
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