Trend analysis
According to the data monitoring of the business association, the domestic cobalt market fluctuated and adjusted in April, and the overall cobalt price continued to fall. As of April 19, the price of cobalt was 345000.00 yuan / ton, down 2.17% from 352666.66 yuan / ton at the beginning of the month (April 1).
New energy vehicle market
According to the data released by China Automobile Association, in March, the production and sales of new energy vehicles in China were 216000 and 226000 respectively, with a year-on-year increase of 2.5 times and 2.4 times respectively. From January to March, the production and sales of new energy vehicles in China were 533000 and 515000 respectively, with a year-on-year increase of 3.2 times and 2.8 times respectively. The production and sales of new energy vehicles have increased greatly, which is good for the future market of cobalt market.
In terms of power battery output: in March 2021, the output of ternary battery was 5.8gwh, accounting for 51.6% of the total output, with a year-on-year growth of 79.6% and a month on month growth of 13.7%; the output of lithium iron phosphate battery was 5.4gwh, accounting for 48.3% of the total output, with a year-on-year growth of 341.3% and a month on month growth of 26.1%. From January to March, the cumulative output of ternary battery was 17.8gwh, accounting for 54.3% of the total output, with a year-on-year cumulative growth of 211.6%; the cumulative output of lithium iron phosphate battery was 15.0gwh, accounting for 45.6% of the total output, with a year-on-year cumulative growth of 487.1%. In terms of sales volume, in March 2021, the sales volume of ternary battery was 4.3gwh, up 141.4% year on year, accounting for 47.9% of the total sales volume; the sales volume of lithium iron phosphate battery was 4.6gwh, up 270.3% year on year, accounting for 52.0% of the total sales volume. From January to March, the cumulative sales of ternary battery was 12.7gwh, with a year-on-year cumulative growth of 170.1%; the cumulative sales of LiFePO4 battery was 11.1gwh, with a year-on-year cumulative growth of 246.4%. Power battery production and sales rose sharply, which was good for the cobalt market, but the growth rate of LiFePO4 battery production and sales was significantly higher than the overall growth level of the industry, and the growth rate of ternary battery fell, which was bad for the future cobalt market.
MB cobalt price
Time ﹣ category ﹣ specification ﹣ lowest price ﹣ rise and fall ﹣ highest price ﹣ rise and fall ﹣ unit
April 1, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb
April 1, 2021 – alloy grade cobalt 22.5 0 23.3 0.3 USD / lb
April 6, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb
April 6, 2021 – alloy grade cobalt 22.5 0 23.3 0 USD / lb
April 7, 2021 ﹣ standard cobalt ﹣ 22.5 ﹣ 23 ﹣ USD / lb
April 7, 2021 ﹣ alloy grade cobalt ﹣ 22.5 ﹣ 0 ﹣ 23.3 ﹣ 0 ﹣ USD / lb
April 8, 2021 – standard cobalt 22.25 – 0.25 – 23.0 USD / lb
April 8, 2021 – alloy grade cobalt 22.25 – 0.25 – 23 – 0.3 USD / lb
April 9, 2021 ﹣ standard cobalt ﹣ 22 – 0.25 ﹣ 22.6 – 0.4 ﹣ USD / lb
April 9, 2021 – alloy grade cobalt 22 – 0.25 – 22.6 – 0.4 USD / lb
April 12, 2021 ﹣ standard cobalt ﹣ 21.7 – 0.3 ﹣ 22.5 – 0.1 ﹣ USD / lb
April 12, 2021 – alloy grade cobalt 21.7 – 0.3 – 22.5 – 0.1 USD / lb
April 13, 2021 ﹣ standard cobalt ﹣ 21.7 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 13, 2021 ﹣ alloy grade cobalt ﹣ 21.7 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 14, 2021 ﹣ standard cobalt ﹣ 21.5 – 0.2 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 14, 2021 ﹣ alloy grade cobalt ﹣ 21.5 – 0.2 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 15, 2021 ﹣ standard cobalt ﹣ 21.5 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 15, 2021 ﹣ alloy grade cobalt ﹣ 21.5 ﹣ 0 ﹣ 22.5 ﹣ 0 ﹣ USD / lb
April 16, 2021 ﹣ standard cobalt ﹣ 21.4 – 0.1 ﹣ 22.4 – 0.1 ﹣ USD / lb
April 16, 2021 – alloy grade cobalt 21.4 – 0.1 – 22 – 0.5 USD / lb
According to the statistical data of MB cobalt price, MB cobalt price fluctuated and fell in April, and the international cobalt market continued to fall, which was bad for domestic cobalt market, and the domestic cobalt market was under great downward pressure.
Market Overview
Bai Jiaxin, data analyst of business news agency, believes that the new energy vehicle market continues to rise, which has a certain positive support for the demand of cobalt market. However, the growth rate of ternary battery has declined, and the demand of cobalt Market in the future may not be as expected. The price of cobalt salt has continued to fall recently, increasing the pressure on the decline of cobalt price; the international cobalt price has continued to fall, and the international cobalt market is weakening. Generally speaking, the cobalt market still has upward support, but the demand of the cobalt market may be less than expected, and the supply and demand of the cobalt market may still maintain oversupply. There is room for the cobalt price to rise in the future, but the rising power is insufficient. It is expected that the cobalt price will fluctuate and stabilize, and the cobalt price may fluctuate and adjust between 320000-350000 yuan / ton.
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