Cobalt prices fell first and then rose this week

Domestic cobalt price fell first and then rose this week

 

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According to the data monitoring of the Business Agency, as of February 20, the cobalt price was 290500 yuan/ton, up 0.35% from the cobalt price of 289500 yuan/ton on February 13. The demand of cobalt market recovered, the international cobalt price fluctuated and fell, the domestic cobalt market stopped falling and rebounded, and the cobalt price fell first and then rose.

 

Cobalt and nickel prices are facing a reversal

 

As of February 20, the price of cobalt sulfate was 39500 yuan/ton, while the price of nickel sulfate was 40000 yuan/ton, and the price of nickel sulfate was inversely higher than the price of cobalt sulfate. From the perspective of cost, the necessity of cobalt removal became weaker, and high nickel and low cobalt became the chicken ribs. It is expected that the demand for cobalt in the future is expected to increase.

 

Local new energy vehicle policies

 

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Eight departments, including the First Equipment Industry Division of the Ministry of Industry and Information Technology, issued the Notice on Organizing the Pilot Work of Comprehensive Electrification of Vehicles in the Public Sector to promote the development of the new energy vehicle industry; Nanjing continues to implement the policy of exemption from vehicle purchase tax for new energy vehicles; Hunan pointed out in the “20 items of stable growth” that the policy of replacing new energy vehicles with capital subsidies should be continued to drive the production and consumption of new energy vehicles; The People’s Government of Guangdong Province is now printing and distributing the Implementation Plan of Guangdong Province’s Carbon Peak, which proposes to vigorously develop the new energy automobile industry; Sichuan Province should implement the policy of exemption from vehicle purchase tax on new energy vehicles and carry out a series of consumption promotion activities such as new energy vehicles. The new energy vehicle sales are expected to rise, and the demand for cobalt market is expected to rise.

 

Overview and prospect

 

Bai Jiaxin, a data analyst at the Business News Agency, believes that the international cobalt price fluctuates and falls, which is negative for the domestic cobalt market. The production and sales of new energy vehicles are expected to rise, and the domestic cobalt market demand is expected to warm up. High nickel and low cobalt have become chicken ribs, the comparability of battery cobalt removal has weakened, and the demand for cobalt has increased. In the future, the new energy vehicle market is still optimistic, and the cobalt market demand is expected to increase, but the international cobalt price is still falling, and the cobalt market is expected to stabilize in the future.

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