Domestic cobalt prices rose on December 9
The domestic cobalt price rose sharply on December 9, and the cobalt market rose. On December 9, the cobalt price was 476,300 yuan/ton, an increase of 471,100 yuan/ton from the previous trading day (December 8), an increase of 1.10%; the cobalt price continued to rise.
The import of cobalt raw materials decreased
International electrolytic cobalt prices continue to rise, and the spread between domestic and foreign prices has widened. In October, the import volume of cobalt intermediate products dropped sharply, and the import volume of electrolytic cobalt dropped sharply. Overseas gradually entering the New Year holiday, port shipping schedules may be delayed. Cobalt raw material suppliers and smelters have reported that shipping schedule uncertainty will continue at least until the first quarter of 2022. In addition, the South African epidemic affects cobalt ore transportation and domestic cobalt supply Or there may be a short-term shortage.
Market summary
The import volume of cobalt raw materials has declined, and shipping restrictions have been imposed. The domestic cobalt raw material inventory continues to be tight. International electrolytic cobalt is basically geared towards good, prices continue to rise, and the support of the cobalt market continues to rise; in December, the downstream battery materials are mainly based on the inventory reduction strategy, domestic demand is relatively weak, and market transactions are sporadic. On the whole, the recent supply constraints have stimulated cobalt prices to rise sharply. The increase in international cobalt prices has driven the domestic cobalt market to rise, but the domestic cobalt market demand is relatively cold, and the cobalt market has limited room for growth. Cobalt prices are expected to fluctuate up in the future, but the upside is limited.
Related listed companies: Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).
