On October 20, the domestic cobalt price fell
According to the monitoring data of business agency, the domestic cobalt price fell on October 20. As of October 20, the cobalt price was 400800 yuan / ton, down 0.55% from the cobalt price of 403000 yuan / ton on October 19 of the previous trading day; Compared with the price of 381600 yuan / ton on October 1 at the beginning of the month, the price of cobalt increased by 5.03%. Cobalt prices fell on the 20th, and the rising power of cobalt market still exists.
Strike in South Africa or affect transportation in cobalt City
It is reported that South African industry and trade union officials said that the National Union of metal workers of South Africa (numsa) organized about 155000 members in the industry. After the deadlock in salary increase negotiations with employers and the failure of arbitration, South Africa’s largest engineering metal workers union launched an indefinite strike on October 5 to ask for a salary increase. The strike has not spread to the port and transportation industry for the time being, but the continuation of the strike is bound to affect other industries in South Africa, have a certain impact on the port and transportation in South Africa, or affect the transportation of cobalt raw materials.
Market Overview
Bai Jiaxin, a data analyst of business news agency, believes that the strike in South Africa has a certain impact on cobalt transportation, but the overall supply and demand of cobalt market is still in balance, the rising support of cobalt market is limited, the international cobalt price continues to rise slightly, the rising support of domestic cobalt price still exists, and it is expected that the cobalt price will rise slightly in the future.
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