China’s domestic market metal cobalt market fell on October 11

On October 11, the price of metallic cobalt in the domestic non-ferrous metal spot market fell. The average price of cobalt was 47,7125.00 yuan/ton, which was down by 5,750 yuan/ton from the previous trading day, a decrease of 1.19% and a year-on-year increase of 10.04%.

On October 11, 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.

On October 10th, the cobalt commodity index was 173.70, which was the same as yesterday. It was 27.29% lower than the highest point of 238.91 points (2018-04-15) in the cycle, which was 148.71% higher than the lowest point of 69.84 on July 5, 2016. (Note: Period refers to 2011-09-01 to date).

On October 11, the domestic price of cobalt was down, and the price of cobalt powder in Shanghai was temporarily stabilized, and the actual transaction price fell. On October 11, the domestic cobalt price of Wuxi Stainless Steel Electronic Trading Center was 474,000-494,000 yuan/ton, the price of cobalt price fell by 2,000 yuan/ton, and the stock of October 11 was 433.75 tons. The supply of cobalt is at a high level. In terms of demand, the cobalt market has a certain transaction, but it is still on demand. The high supply growth and low demand growth have led to the weakening of cobalt prices. The downside risks remain. The stock market new energy sector and the technology sector have recently owed their performance. Jia, the prospects for new energy battery demand are bearish, and the demand for cobalt is bad.

In view of the market outlook, a small amount of transactions in the cobalt market, cobalt prices rose in general, and because the cobalt supply and demand did not change significantly, the cobalt price is difficult to maintain, the Congo gold imposes tariffs on the cobalt mine, the cobalt mine import cost is at a high level, and the cobalt price has limited space. The domestic cobalt price still has a downside risk. In September, the new energy auto industry performed poorly. The cobalt market demand was lower than expected, which caused a big negative for the cobalt price. It is expected that the cobalt price will be stable after a small decline.