The domestic cobalt price stopped falling on February 2

On February 2, domestic cobalt price stopped falling and rising

According to the data monitoring of the Business News Agency, as of February 2, the domestic cobalt price was 297000 yuan/ton, up 0.27% from the cobalt price of 296200 yuan/ton on February 1. On February 2, the domestic cobalt price stopped falling and rose.

Analysis points

The cobalt price in LME market has stabilized, the decline of MB cobalt price has slowed down, and the decline of international cobalt price has slowed down; The domestic economy recovered, the production and sales of new energy vehicles rose or exceeded expectations, the sales of mobile phones were expected to warm up, and the demand of cobalt market was expected to warm up; The cobalt price is close to the cost line, and the decline space of cobalt price is limited. The import of cobalt raw materials has increased significantly, the supply of cobalt market is sufficient, and the support of cobalt price rise is insufficient.

Aftermarket expectation

The decline of the international cobalt price slows down, the demand is expected to warm up, the decline space of the cobalt price is limited, the supply of the cobalt price is sufficient, and the support for the rise of the cobalt price is insufficient. It is expected that the volatility of the cobalt price will stabilize in the future.