I. trend analysis
According to the data monitoring of the business club, the cobalt market rose tentatively last week, after which the cobalt price was underpowered and fell in shock. As of November 22, the price of cobalt was 267500.00 yuan / ton, up 0.75% from the average price of 265500.00 yuan / ton on November 18; as of November 25, the price of cobalt was 265333.34 yuan / ton, down 0.06% from November 18. Last week, the cobalt market recovered to the pre rising level after a tentative rise.
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II. Market analysis
MB market cobalt price
Time, category, specification, lowest price, up and down, highest price, up and down unit
11.22 standard cobalt 16.15-0.35 17.15-0.35 USD / lb
11.22 alloy cobalt 16.75-0.05 17.50 USD / lb
11.20 standard cobalt 16.5-0.3 17.50 USD / lb
11.20 alloy cobalt 16.8-0.4 17.5-0.2 USD / lb
11.15 standard cobalt 16.8-0.2 17.5-0.2 USD / lb
11.15 alloy cobalt 17.2-0.1 17.7-0.1 USD / lb
11.13 standard cobalt 17-0.2 17.7-0.1 USD / lb
11.13 alloy cobalt 17.3-0.3 17.8-0.3 USD / lb
© November 2019 business club www.100ppi.com
It can be seen from the table that in the near future, MB quotation fell slightly in shock, but the decline of cobalt price remained at around 0.2-0.3 for adjustment, and the international market cobalt price fell slightly in shock, which was negative for the cobalt market. Negative for domestic cobalt market, increasing downward pressure on cobalt market.
LME market March future cobalt price
It can be seen from the figure that in the past month, the cobalt price of LME futures fell in March, and the international market cobalt price fell, which created a negative impact on the domestic cobalt Market and increased the downward pressure on the cobalt market.
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III. future prospects
Baijiaxin, data analyst of business agency, believes that last week, domestic cobalt market was affected by policies and Tesla’s production, resulting in a short-term rise in cobalt price, but the overall supply and demand of cobalt market has not been improved, the cobalt market is still in oversupply, and the momentum for the rise of cobalt market is insufficient. Last week, the international cobalt market reacted coldly, and the international cobalt price fell sharply, which poured cold water on the domestic cobalt Market with little upward momentum. After a small increase, the domestic cobalt price quickly fell back to the pre rising cobalt price, and there is still some downward pressure on the cobalt Market in the short term. Generally speaking, cobalt price is expected to fluctuate and fall slightly in the short term. In the long term, cobalt market is still optimistic, and cobalt price is still favorable in the long term. December may be the turning point of cobalt price.
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