Domestic cobalt price fell on June 1

According to the data monitoring of the business agency, the cobalt price fell on June 1, and the cobalt market continued to decline. On June 1, the cobalt price was 445500 yuan / ton, down 0.87% from 449400 yuan / ton on the previous trading day. The cobalt price continued its decline in May, and the cobalt market recovered indefinitely.

Key points of analysis

Cobalt price in LME market fell, MB cobalt price fell, international cobalt price fell, and the price difference at home and abroad weakened; The output of ternary batteries declined, and the demand of cobalt market was less than expected. Tesla and other new energy vehicle manufacturers resumed production, but the overall output has not yet recovered to the previous level. The inflection point of the epidemic is not yet clear. Enterprises have not fully recovered from large-scale resumption of work and logistics transportation. Mobile phone sales have fallen sharply, and the demand of cobalt market has fallen, and the recovery of short-term demand is less than expected. The price of cobalt salt fell sharply, the metal cobalt fell affected, and the pressure of cobalt price decline increased.

Aftermarket forecast

It is difficult to recover from the decline in demand, and the pressure on the cobalt price to fall is large. It is expected that the cobalt price will be adjusted by weak shocks in the future.