The domestic cobalt price rose in shock this week
| Thiourea |
According to the data monitoring of the business community, as of November 21, the average domestic cobalt price was 350400 yuan/ton, up 2.97% from 340300 yuan/ton on November 13. This week, domestic cobalt prices rose in shock. The corresponding nickel price fell in shock.
Deviation between nickel price and cobalt price
It can be seen from the comparison chart of nickel price and cobalt price trend that this week’s nickel price trend deviates from cobalt price trend, with nickel price falling in shock and cobalt price rising in shock. Cobalt and nickel are alternative competing elements in ternary batteries. High nickel and low cobalt have always been the future trend of ternary batteries. In 2022, nickel prices will continue to rise, cobalt prices will fall in shock, and the advantages of high nickel and low cobalt ternary batteries will weaken. In addition, in the peak season of the consumer electronics market during the Double 11 Festival, cobalt market demand is high. Recently, cobalt prices will slowly recover and nickel prices will fall in shock.
MB cobalt price trend
It can be seen from the trend chart of MB cobalt price that MB cobalt price stopped falling and recovered this week. As of November 18, the average price of standard cobalt was 22.575 dollars/pound, up 0.175 dollars/pound from the standard cobalt price of 22.4 dollars/pound on November 14; On November 18, the average price of alloy grade cobalt was US $24.75/lb, which was US $0.125/lb higher than the average price of alloy grade cobalt of US $24.625/lb on November 14. The international cobalt price stopped falling and recovered, and the decline of the cobalt market weakened.
Overview and prospect
Bai Jiaxin, a data analyst from the business community, believes that the international cobalt price has stopped falling and recovered this week, which is good for the domestic cobalt market, and the support for the rise of cobalt price remains; The nickel price remains high, and the advantage of the ternary battery with high nickel and low cobalt is weakened. In addition, during the peak season of the consumer electronics market during the Double 11 Festival, the demand in the cobalt market is relatively high. The support of the cobalt market is increased, and the cobalt price rises slightly.
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