1、 Trend analysis
According to the data monitoring of the business agency, the cobalt price this week was greatly adjusted, and the decline of the cobalt market could not be stopped. As of March 20, the price of cobalt was 256500.00 yuan / ton, down 1.03% from the average price of 259166.67 yuan / ton at the beginning of the week. The closure of factories and stores has affected the confidence of cobalt market. The panic of cobalt market has spread and the price of cobalt has fallen.
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2、 MB cobalt price drops sharply
Judging from the trend of MB cobalt price, the price of MB cobalt fell sharply this week. The decline of international cobalt market further hit domestic cobalt market, which was negative.
3、 Apple will close all retail stores outside Greater China
On the afternoon of March 14, Beijing time, Apple’s official website announced today that all stores (retail stores) in China (Greater China) have been reopened, and decided to close all stores in other regions of the world before next Friday (March 27)! Apple’s cell phone closing stores will inevitably affect mobile phone sales and generate negative demand for cobalt.
4、 Tesla temporarily closes California and New York plants
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Tesla (NASDAQ: tsla) announced Thursday that its plants in Fremont, California and buffalo, New York, will be temporarily shut down. Tesla shut down the plant, further negative for cobalt market demand. Cobalt market spread bad.
6、 Future prospects
According to Bai Jiaxin, a data analyst at business club, the global economy is in a weak state, multinational enterprises are shutting down or reducing production, and sales outlets are also affected by the trend of closure. The closure of production enterprises and sales outlets has a great negative effect on the demand of cobalt market. In the absence of a significant reduction in supply, the downward pressure on cobalt market is increasing. In the short term, the market of cobalt is good but not good, and the negative effect is increasing. Although 5g is still stimulating consumption for a long time, and the general trend of new energy vehicles, cobalt market is still optimistic for a long time. However, cobalt city was closed shop tide poured a basin of cold water, cobalt city rising cycle infinite delay. Short term cobalt market is more bearish than positive, and cobalt price is short-term bearish.
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