1、 Price trend

In February 2020, the butadiene market fell sharply. According to the monitoring of the business society, the price of butadiene at the beginning of the month was 8056 yuan / ton, and at the end of the month was 6223 yuan / ton, a 22.76% drop in the month, with a 33.41% drop in the price compared with the same period last year.

2、 Analysis of influencing factors

Product: in February, the domestic butadiene market fell sharply. After the Spring Festival, the downstream construction was delayed and the logistics and transportation were stagnant. However, most butadiene plants maintained normal operation, the inventory in circulation was high, and the contradiction between market supply and demand worsened, dragging the market down rapidly. With the rapid decline of the market in the north, the downstream latex manufacturers in the middle and late ten days have resumed their work and recovered their logistics. The market in the North rebounded slightly after the stop of the decline, but there is no obvious price difference between the north and the south, the supply pressure in East China is difficult to be relieved, the contradiction between supply and demand in the market still exists, the market speculation is weak, the market quickly recovers weak, and the impact of public health events at the end of the month expands, which has an impact on the external market Market and commodity trends have brought drag, butadiene business is expected to be short in the future.

In terms of enterprises, Sinopec’s supply price of butadiene in East China decreased by 1700 yuan / ton to 6500 yuan / ton on a month on month basis; the price of North Huajin butadiene dropped by 2200 yuan / ton on a month on month basis with 5810 yuan / ton on a month on month basis; affected by cost and inventory pressure, Nanjing Chengzhi 100000 ton / year oxidation and dehydrogenation unit stopped on February 10, and it is expected to restart in early March; Inner Mongolia Jiutai’s listed price is 5800 yuan / ton, Compared with the previous month, the price of Shenhua Ningxia coal butadiene dropped by 2000 yuan / ton; compared with the previous month, the price of Shenhua Ningxia coal butadiene dropped by 1700 yuan / ton to 5420 yuan / ton; within the month, Zhejiang Petrochemical Co., Ltd. maintained about 60% load operation of 200000 ton / year butadiene plant, and some qualified products were delivered to downstream contracts; Dalian Hengli 140000 ton / year butadiene plant operated stably within the month, and some goods were exported, with the price reference of 5760 yuan / ton by the end of the month.

In terms of industrial chain: SBR: in February, the domestic market price of SBR was significantly weaker. After the year, the downstream failed to return to the market on time, and there was a strong wait-and-see mood on the site; however, most of the styrene butadiene production enterprises operated stably, only the styrene butadiene plants such as Qilu and Yangzi reduced their load in a short time, and the inventory of the whole factory and traders were significantly higher, with a large inventory pressure. Local traders continued to resume work, but most of the terminal restart progress was slow, and some of the resumption enterprises first focused on the consumption of raw materials inventory, which was difficult to release demand, and limited changes in trading and investment.

Cis-1,4-polybutadiene rubber, in February, the domestic cis-1,4-polybutadiene rubber market showed a sharp decline trend. Since the end of January, influenced by macro factors, and after the Spring Festival, the logistics and downstream have not recovered, and the trading in Shunding market tends to stagnate. Over time, there was no sign of recovery in the market. Upstream factories had overstocked inventory, and some warehouses were expanding. Affected by the control of logistics, some Shunding factories gradually reduced their load. After the middle of the year, the price of raw materials fell sharply, the stock pressure accumulated, and there was no sign of improvement in the downstream. Shunding market fell into a falling channel, and the supply price fell to a new low level in recent two years. With the price reaching a low point, some terminal factories returned to the market, the enthusiasm of middlemen for price collection increased, coupled with the strong support of Tianjiao, the market decline slightly slowed down.

Industry: according to the price monitoring of the business agency, in February 2020, there are 28 kinds of commodities rising month by month in the list of commodity prices in the chemical industry sector, including 5 kinds of commodities rising by more than 5%, accounting for 5.7% of the number of commodities monitored in the sector; the top three commodities rising are sulfur (10.60%), hydrofluoric acid (8.40%) and fluorite (8.05%). There are 48 kinds of commodities falling on a month on month basis, and 27 kinds of commodities falling by more than 5%, accounting for 31% of the number of commodities monitored in the sector; the top three products falling are butadiene (- 22.76%), propane (- 21.45%) and hydrogen peroxide (- 18.21%). This month’s average rise and fall was – 2.53%.

3、 Future forecast

In the future, good news: the start-up of the synthetic rubber industry has not declined significantly; there is a certain rigid demand for spot goods in the latex industry. On the negative side, the supply of domestic manufacturers is stable, the inventory in the tank farm remains high, and the upstream and downstream links of the butadiene industry chain have certain inventory pressure. With the downstream industries returning to work one after another, retail investors have just needed or will bring some support to the market at the low price node. However, in terms of the supply side, at present, the social inventory is high, the external cargo is abundant, and the output of Zhejiang Petrochemical and Dalian Hengli is released stably, so the overall supply side of butadiene market is still under pressure. On the one hand, the short-term market is abundant in supply; on the other hand, it will take some time to digest the inventory of finished products and raw materials from the downstream to the upstream. Butadiene analysts of the business club predict that the short-term domestic butadiene market will remain weak in the first half of March. In the second half of March, they need to pay attention to the macro news impact on the recession and whether the terminal demand can bring the bottom support to the market.

1、 Trend analysis

As shown in the figure above, today’s domestic copper price rose slightly, offering 45351.67 yuan / ton, 1.35% higher than the previous day, down 9.15% year on year. Shanghai copper’s main contracts rose 0.86% to close at 45620 yuan. LME copper three-month contract opened higher after the pressure callback, to the Asian market deadline at $5734, up 0.19%.

2、 Market analysis

Copper prices rebounded in the past two days. The strong rebound in the US stock market boosted the market. Overnight, Luntong copper rose by $135. Smelter production reduction and maintenance affected the supply of refined copper. The recovery of downstream consumption accelerated the pace of boosting copper prices.

3、 Future prospects

According to the above situation, copper analysts of nonferrous branch of business society think that: domestic social public health events are gradually under control, provinces have started construction in succession, and downstream demand is expected to be boosted, but foreign epidemic situation develops rapidly, early inventory accumulation is serious, and copper price growth is restrained, and short-term fluctuation of copper price is expected to be strong.

1、 Price trend

According to the data of the bulk list of business agencies, the domestic propylene (Shandong) market price rose sharply in March, and the price rose continuously in three days. At the beginning of the month, the average price of enterprises was the lowest, 6350 yuan / ton; on March 3, the average price of enterprises was the highest, 6542 yuan / ton, up 3.02% on March 3.

2、 Analysis and comment

Product: in March, the price of propylene in Shandong began to decline in the early stage of the first reform. On the first day, the price of some enterprises picked up slightly. On the second day, the price of the whole line rose slightly. Today, most enterprises increased about 200 yuan / ton. At present, the market turnover is 6500 ~ 6700 yuan / ton, and the mainstream price is about 6500 yuan / ton.

Industry chain: in the upstream, during the Spring Festival, the international crude oil market continued to decline substantially, and then rebounded slightly. Since March, OPEC has increased its production reduction expectation. The crude oil price has been near the low level in 2018, and the crude oil market has risen significantly, and the crude oil futures have risen rapidly.

In recent days, PP market rose steadily, up 1.68% in three days. Futures market is better, which has a certain positive impact on propylene.

In recent days, acrylic acid market has been stable, and the price has not changed, which has little impact on propylene.

In recent days, the market of propylene oxide has declined significantly, reaching 4.43% in three days, which is expected to have a certain negative impact on propylene.

In recent days, epichlorohydrin prices fell sharply, down 6.28% in three days, which had a significant negative impact on propylene.

Recently, the price of n-butanol in China has been stable, with little impact on propylene.

In recent days, octanol market has declined by 2.53% in three days, which has some negative impact on propylene.

Isopropanol market prices recently fell slightly, down 1.90% in three days, which was negative for propylene market.

The price of phenol in Shandong Province has also been explored recently, with a 3-day decline of 2.60%, which has some negative impact on propylene.

In recent days, the acetone market in Shandong Province has seen a slight decline in price, with a decline of less than 0.48% in three days, which has limited impact on propylene.

3、 Future forecast

According to the propylene analyst of the chemical branch of the business society, the propylene market has rebounded continuously in recent days, and the crude oil market has rebounded from the bottom under the influence of multiple good news. In the near future, the production and inventory of propylene plant are relatively low. Now, crude oil and polypropylene futures are rising, which makes the downstream procurement active. Therefore, although the downstream products are slightly down, it is expected that the market price of propylene may rise in recent days, and the downstream products may slightly follow up in the later period.

1、 Trend analysis

According to the nickel price monitoring of the business association, on March 3, the spot nickel price rose sharply, with the quotation of 103650 yuan / ton, 2.64% higher than the previous day, 3.32% higher for two consecutive days, 0.27% higher than the previous year. Today, Shanghai nickel opened at 102500 yuan, followed by a rise in price before a fall in price, closing at 102350 yuan, up 0.34%. LME3 nickel closed 0.32% lower at $12640 at the end of the month.

2、 Market analysis

In the past two days, nickel prices have rebounded sharply. On the one hand, Indonesia’s first case of virus infection has emerged, and the uncertainty of nickel supply prospects in India has boosted prices. On the other hand, since March, due to the effective control of the domestic epidemic, the provinces have returned to work one after another, and the downstream demand is expected to boost.

3、 Future prospects

Future forecast: considering the impact of Indonesia’s ban on mining and the rainy season in the Philippines, domestic smelters and traders have stockpiled nickel ore in advance. Since September last year, China’s import of nickel ore has increased significantly, so the current supply of nickel ore is relatively abundant, so the impact of the epidemic on the supply and demand of nickel ore is limited. However, the downstream recovery gradually supports nickel price, and it is expected that the short-term fluctuation of nickel price will be strong.

According to statistics, the price of phthalic anhydride in China is slightly lower. As of March 2, the price of phthalic anhydride from o-phthalic method is 5675 yuan / ton. Recently, the price of phthalic anhydride in China is slightly lower, the demand of plasticizer industry is general, and the market of phthalic anhydride is stable and slightly lower.

In recent years, the market price of phthalic anhydride in China has been slightly lower, the transportation of chemicals has been alleviated, and some phthalic anhydride manufacturers still have inventory and poor delivery. The market price of phthalic anhydride and phthalic anhydride in East China fell slightly, the downstream factories shut down a lot, the factory inventory pressure increased, the high-end transaction was blocked, the recent factory inventory increased, and the market price trend of phthalic anhydride declined. In East China, 5500-5800 yuan / ton is the main flow of negotiation for neighboring method and 5300-5500 yuan / ton for naphthalene method; in North China, 5400-5800 yuan / ton is the main quotation for phthalic anhydride market, most of the manufacturers in the site have stable prices, low downstream construction, mainly on-demand procurement, strong wait-and-see mentality, the domestic phthalic anhydride plant is under normal operation, the spot supply of phthalic anhydride in the site is normal, plus phthalic anhydride Travel demand is not good, for phthalic anhydride on-demand procurement, phthalic anhydride price trend slightly down.

In the near future, the execution price of domestic phthalic anhydride upstream product Sinopec is 5800 yuan / ton. The import price of phthalic anhydride in port area is slightly lower, and the quotation is declining. In the near future, the port phthalic acid market is weak, the port inventory is increased, and the external quotation of phthalic acid is lower. The actual transaction price is subject to negotiation and detailed discussion. Influenced by the low price of upstream raw material phthalic acid, the market price of phthalic anhydride is slightly lower.

The price of downstream DOP raw materials isooctanol is temporarily stable, the cost of DOP raw materials is fluctuating and decreasing, DOP enterprises operate at low load, the logistics is limited in the near future, transportation is difficult, and DOP manufacturers’ inventory is increased. The price of DOP fell, the purchasing enthusiasm of customers was poor, the price of downstream PVC fell, and the equipment of PVC enterprises started at a low level. The main quotation in DOP market is about 7000-7500 yuan / ton, a small amount of market plasticizer is traded, and the price of upstream ox fluctuates at a low level. It is expected that the market price of phthalic anhydride will maintain a fluctuating trend in the later stage.

1、 Price trend:

According to the data of the bulk list of business agencies, the domestic ABS market weakened in February, and the spot price of the market mostly decreased. As of Monday, March 2, the main offer price of general-purpose ABS was about 12550.00 yuan / ton, a decrease of 7.04% compared with the average price at the beginning of February.

2、 Analysis of influencing factors:

Industry chain: in all upstream aspects of ABS, styrene market was still depressed in February. Although there was a narrow rebound in the last ten days, the transaction changes were limited, and the overall weakness improved little. Due to the impact of domestic health events, different traffic regulations have been carried out in different places. Although the vehicle transportation capacity has recovered in the near future, the downstream demand is not high. In the case of buyer wait-and-see phenomenon, business inventory gradually accumulates to form pressure. In addition, the recent cost support is weak, many businesses choose to let the profit go single. Styrene market is under the double pressure of insufficient cost support and weak demand in the near future, or will still be in a low market in the short term;

This month, the trend of acrylonitrile related products in the spot market is weak, and the short price is weak. The downstream construction resumed slowly, and it was reported that some acrylonitrile production enterprises had production reduction plans for this. Acrylonitrile producers say transport barriers remain high. The operators are confused. The downstream factories just need a small amount of goods, and the market participants need to be further expanded. It is expected that the market of acrylonitrile will not improve in the near future;

In February, the domestic butadiene market dropped significantly, continuing the weak situation. Some manufacturers in the north and East China are relatively active in export. In addition, Zhejiang Petrochemical and Hengli have some products for export, and the market spot supply increases significantly. However, it is near the end of the month for the downstream and Liuhe latex factories to resume work one after another, and the raw material inventory of the manufacturers to resume work is relatively abundant, and the enthusiasm for goods preparation after saving is poor, and the market lacks the follow-up of new orders. The short-term external offer and the spot supply of the tank farm are abundant. There is no obvious price difference between the north and the south in order to stimulate the circulation of goods. The supply side of the market is still under pressure. The downstream inquiry is slightly cautious. The market bearish atmosphere is diffuse, and the market is approaching a five-year low. The northern part of the high price offer lack of solid single support;

3、 Future forecast:

Business analysts believe that: the ABS market fell in February, and the recent spot prices of various brands gradually decreased. Cost side of the upstream three materials this month trend is not ideal, on the cost side support is not good. The spot supply is more sufficient, but the resistance of logistics and transportation is larger. In the near future, the market may maintain the policy of destocking, but the slow resumption of downstream work hinders demand, the market atmosphere is not active, and trading is light. It is expected that domestic ABS prices will continue to weaken in the near future.

1、 Price trend:

According to the data of the bulk list of business agencies, in February, the domestic PA6 market was stable first and then fell, which was weak. At the end of the month, the price of some brands dropped significantly. As of Monday, March 2, the main offer price of traders to Zhongzhu 2.75-2.85 was about 12433.33 yuan / ton, down 5.57% from the average price at the beginning of the month.

2、 Analysis of influencing factors:

PA6 upstream caprolactam weak finishing this month, the decline mainly concentrated in the first half of the month. In the first half of the month, the pure benzene port inventory accumulated, and the downstream resumption process was slow. In addition, styrene plant reduced production, raw materials were released, and pure benzene was in the situation of weak supply and demand, and still constrained by transportation. In the second half of the month, domestic logistics and transportation recovered to a certain extent, and the downstream resumption of work continued to advance. At present, there are signs of rising demand, and low-cost goods are starting to be reluctant to sell. By the end of the month, the decline of caprolactam had slowed down, but there was still a downward trend. In terms of demand, the downstream just need to take the goods for stock is not good, and the industry is not optimistic about the existing market. It is expected that caprolactam will mainly digest inventory in the later period, and the price will still fall. At present, the inventory of caprolactam enterprises is high, and the price of raw materials is still falling; the price trend of upstream caprolactam is unclear, which has limited support for PA6. The price of PA6 in China also fell this month. Slice enterprises have a lot of inventory. Although the downstream return to work at the end of the month has improved, but the stock up did not consume years ago, the demand is still weak, only part of the phenomenon of bargain hunting. Business offer to maintain weak, near the end of the month quote center of gravity down. The market atmosphere was cold and trading was slow.

3、 Future forecast:

Business analysts believe that: in February, the domestic PA6 market fell, and some spot prices fell significantly. The trend of upstream caprolactam is weak, and the support for PA6 cost end is poor. The situation of downstream factories returning to work has been improved to some extent, but there are still years of stock up, and the demand remains low. In recent years, the domestic market is relatively slow, the atmosphere is cold, and the operators sell at a profit. It is expected that PA6 market will continue weak adjustment in the near future. It is suggested to pay attention to the cost side market.

1、 Price trend

According to the data of the bulk list of business agencies, the market of PA66 in China was stable in February, with a narrow adjustment. As of Monday, March 2, the average price of the mainstream offer of PA66 is about 22350.00 yuan / ton, down 3.04% from the price level in early February.

Analysis of influencing factors:

In February, the market of adipic acid in the upper reaches of PA66 was weak and stable, and the market was generally affected by the epidemic situation. The supply and demand were not strong, and the transaction fell into freezing point. In most regions, the price of adipic acid has not changed much since the beginning of the month. The price of adipic acid has reached a low level within one year. Some dealers have slightly reduced their prices. Basically, the supply pressure and weak market demand caused by poor transportation are the main factors that hinder adipic acid to get out of the weak situation. In addition, the cost side has lost support again. The continuous low price of pure benzene has made the adipic acid Market snow Frost. At present, the downstream demand for adipic acid has not improved, and the downstream operating rate has been at the lowest point in the whole February. In addition, the social inventory pressure has not been alleviated, the market has not reversed the upward momentum, and the enterprise inventory and market inventory remain at a high level, which is inseparable from the current low demand and low procurement, and is also a secondary problem brought by transportation. This is also the adipic acid price did not usher in an important reason for the rebound after the year. From a regional perspective: the prices in East China and South China are still low, some prices have been lowered, and the demand is weak. At present, the downstream market still generally holds a wait-and-see attitude, and the transaction is slightly deadlocked. In addition, on the upstream cost side, the price of pure benzene re entered the downward channel in February. According to the monitoring of the business agency, the price of pure benzene fell by 7.37% in February. On the one hand, the downward price of the upstream made adipic acid not supported, but on the other hand, it alleviated part of the pressure of the current manufacturers. Because the procurement of the downstream manufacturers was shrinking, adipic acid could not be returned, and only maintained the low price level; In February, the domestic PA66 market was relatively cold, and the market was generally stable. On the supply side, the logistics resistance is still large, due to the impact of logistics transportation resistance, there are few spot transactions. At the same time, the operating rate of downstream factories continued to decline, especially in Wuhan, where the production of automobile enterprises is relatively concentrated, the resumption of work is slow, and the downstream demand is passively reduced. PA66 also has a similar market with price and no market. The trading atmosphere in the market is quiet, and few trading news is heard.

Future forecast:

Business analysts believe: in February, the domestic PA66 market continued to adjust its weakness. Upstream adipic acid manufacturers and distributors have limited resumption of work, narrow price range fluctuation, and limited support for PA66 cost side. The situation of downstream factories returning to work is complex, there is no stock or less stock, and the improvement of demand is very limited. The market atmosphere is cold, there is no market with price, and the operation space is small. It is estimated that whether PA66 transaction is active or not in the near future depends on the domestic resumption of work and logistics.

1、 Price trend

According to the data in the large scale list of business associations, the price of aniline in Nanjing was 6800 yuan / ton on February 1, 6400 yuan / ton in Shandong, and 7300 yuan / ton on February 28.

2、 Analysis and comment

1. Raw materials: affected by the epidemic, crude oil and pure benzene in the outer plate fell sharply. Domestic: the downstream of pure benzene has low starting load and limited demand; the transportation is relatively limited and the overall trading atmosphere of the market is not active.

Nitric acid: nitric acid fluctuated downward this month. On February 1, the price of nitric acid in East China was 1583.33 yuan / ton, and on February 28, the price was 1550 yuan / ton, with a monthly decrease of 2.11%.

2. Product: in February, there are more parking devices in aniline factory, which brings good supply. Jinmao did not produce in February, Shandong Huatai plant recovered on February 20, and Jinling plant was shut down on February 12.

3、 Future forecast

1. In terms of raw materials: the Northeast large-scale refinery rotation and reorganization has been restarted, the later load will be gradually increased, the supply pressure will be further increased, and the short-term pure benzene market is difficult to improve significantly. Late market attention to downstream resumption.

The unit of aniline enterprise was restarted, the output was increased, and the inventory was accumulated due to the soft downstream purchase. Aniline is expected to weaken.

1、 Trend analysis

According to the data monitoring of the business agency, the price of cobalt rose sharply and fell continuously in February, and the market speculation of cobalt continued. As of February 29, the price of cobalt was 273833.34 yuan / ton, down 0.36% from the average price of 274833.33 yuan / ton at the beginning of the month. In February, the price of cobalt rose and fell for many times, and the market of cobalt was adjusted.

2、 Overview of good news and bad news

1. The Democratic Republic of Congo plans to control the artisanal cobalt industry

According to Reuters, the government of the Democratic Republic of Congo has announced ambitious plans to control the artisanal cobalt industry in the western part of the country. The DRC will establish a new state-owned company, the EGC cobalt enterprise, which will be granted a monopoly on the purchase and sale of cobalt from the informal sector. The regulation of artisanal cobalt production in the DRC is bound to have an impact on the price of cobalt. There is upward pressure on cobalt, which has a driving force for the price of metal cobalt in the future, and stimulates the price of cobalt to rise substantially.

2. ERG plans to suspend production at its Zambia copper and cobalt refinery

Joseph chewe, chairman of the Zambian miners’ Union, said on January 22 that the mining enterprise Eurasian Resources Group (ERG) plans to suspend the production of its Chambishi metals copper and cobalt refinery in Zambia for maintenance and repair. The reason for the shutdown is that it is difficult for the refinery to find raw materials. ERG did not immediately comment on the news. The capacity of Chambishi metals refinery is 6800 tons / year. The shutdown of refining cobalt plant will greatly affect the supply of metal cobalt, increase the driving force of cobalt price rise, and further stimulate the rise of cobalt price.

3. Tesla and Ningde times negotiate in depth: or use cobalt free batteries in domestic electric vehicles

According to Reuters, Tesla is in-depth negotiations with Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as “Ningde times”, 300750) on the use of cobalt free batteries in electric vehicles of Shanghai Super factory. If it can be achieved, the amount of cobalt used in the domestic cobalt market will be greatly reduced, and the demand for cobalt will be negative, and the price of cobalt will begin to fall.

3、 International cobalt price trend

According to the trend of the LME market cobalt price in February, it can be seen that the international cobalt price rose sharply at the beginning of February, and then the cobalt price fell all the way, and the cobalt market lost the support of rising. The overall cobalt market was relatively bearish, which was negative for the domestic cobalt market.

4、 Wholesale sales of new energy passenger vehicles fell sharply in January

On February 13, the passenger Federation released data showing that the wholesale sales of new energy passenger vehicles in January were 45000 units, down 51.3% year-on-year and 67% month on month. February witnessed the most significant impact of the outbreak. The original consumption rhythm of the Spring Festival was changed in an all-round way, and the automobile industry chain was in a full stop state. February is the recovery period of production and operation. At present, the recovery speed is slow. Most enterprises delay work and travel for more than a week, resulting in almost negligible retail sales in the first ten days of February.

5、 Domestic mobile phone shipments fell 38.9% year on year in January

According to the analysis report on the operation of the domestic mobile phone market in January 2020 released by China Academy of communications, the total shipment volume of the domestic mobile phone market in January was 20.813 million, down 38.9% year on year. According to forecasts released on Thursday by IDC, a market research firm, coronavirus is expected to have a negative impact on the global smartphone market in 2020, with sales down 2.3%. The sharp decline of mobile phone sales has a great negative impact on the cobalt market, and affected by the epidemic, the major domestic mobile phone manufacturers have lowered their expectations for 2020, which has a crash impact on the demand of the cobalt market, and the negative pressure in the future is large.

6、 Future prospects

Bai Jiaxin, a data analyst at the business agency, believes that after the Spring Festival, the international and domestic cobalt market has been getting good news and bad news, which has stimulated the domestic cobalt price to rise and fall sharply. The situation of the cobalt market is turbulent, and how the future trend of the cobalt Market will cause concern. But from the perspective of the supply-demand relationship of cobalt market, the trend of cobalt price is relatively clear, and the future market of cobalt market is not worth worrying. From the supply side, Glencore has reduced its production, which is expected to affect 20% of the global cobalt supply. In 2020, the supply of cobalt market will be significantly reduced. In the DRC, more efforts will be made to regulate the artisanal mines, which will reduce the supply cost of cobalt, and the impact of the supply side will make the cobalt price continue to rise in the long term. From the demand side, at this stage, new energy vehicles and mobile phones are affected by the epidemic In the future, the country is increasing 5g investment, the sales volume of 5g mobile phones is growing rapidly, and the market’s attention to 5g continues to increase. It is expected that the sales volume of mobile phones will gradually recover and grow in the second half of the year. Generally speaking, at this stage, the supply and demand of cobalt market are both declining, and the rising power of cobalt market is insufficient. At the same time, due to the continuous increase of cobalt cost, the falling space of cobalt price is narrowed, and the falling pressure of cobalt market is insufficient. In the short term, the cobalt market is mainly subject to shock adjustment. In the long run, the demand of cobalt market is still worth looking forward to, there is still an upward momentum in the cobalt market, and the spot cobalt price is still at a low level. However, affected by the epidemic situation, the increase space of cobalt price in 2020 will be reduced, so it is not suitable to pursue high cobalt price.