On September 6, the price of metal cobalt in the domestic non-ferrous metal spot market rose, and the average price of cobalt was 48,7500.00 yuan / ton, up 0.13% from the previous trading day.
On September 6, the price of metal cobalt in major domestic manufacturers was temporarily stabilized. The average price of cobalt ex-factory was 52,5000.00 yuan/ton, which was stable compared with the previous trading day.
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On September 5th, the cobalt commodity index was 175.13, which was the same as yesterday. It was 26.70% lower than the highest point of 238.91 points (2018-04-15) in the cycle, which was 150.76% higher than the lowest point of 69.84 on July 5, 2016. (Note: Period refers to 2011-09-01 to date).
On September 6, the domestic price of cobalt rose, and the price of cobalt powder in Shanghai fell, and the actual transaction price remained stable. On September 6, the domestic cobalt price of Wuxi Stainless Steel Electronic Trading Center was 466,000-496,000 yuan/ton, and the price of cobalt was stable. On September 6, the stock was 566.75 tons, and the inventory was reduced by 4.5 tons. The supply of cobalt is at a high level, and downstream enterprises are purchasing on demand, but the market is still dominated by wait and see. The growth rate of new energy vehicles has declined, but the performance is still better than market expectations. The performance of new energy vehicles is positive for the stability of cobalt prices, but it is difficult to change the downward trend of cobalt prices. However, due to the absolute high cobalt price in the previous period, the import cost of cobalt ore is relatively high, and the space for cobalt price decline is limited.
In terms of market outlook, there is no major change in the supply and demand of cobalt. The overall supply of cobalt is oversupplied, the price of cobalt is difficult to maintain, and the domestic cobalt price is still at risk of decline. It is expected that the price of cobalt in the market will fluctuate and stabilize.
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