On August 25, the domestic cobalt price surged
According to the data monitoring of the business agency, the cobalt price rose on August 25, and the cobalt market rose. On August 25, the cobalt price was 356400 yuan / ton, an increase of 2.41% over the cobalt price of 348000 yuan / ton on the previous trading day. On August 24, the cobalt commodity index was 125.18, up 0.58 points from yesterday, down 47.60% from 238.91 points (2018-04-15), the highest point in the cycle, and up 79.24% from 69.84 points, the lowest point on July 5, 2016. (Note: the period refers to September 1, 2011 to now).
Key points of analysis
The price of cobalt in LME market rose, the price of MB cobalt surged, and the international cobalt price rose; Affected by the high temperature and drought, Sichuan Province has recently imposed a comprehensive power restriction, the Sichuan battery factory of Ningde times has stopped production, the lithium salt enterprises in Sichuan have stopped production, the supply of lithium salt has decreased, the supply of new energy batteries has decreased, and the production reduction of lithium salt enterprises has stimulated the price of lithium salt to rise, and the cobalt market to rise.
Future forecast
The demand is temporarily stable and the supply is declining, the cobalt industry chain is rising, and the driving force for cobalt price rise is increased. It is expected that the cobalt price will rise in the future.
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