The domestic cobalt price fell slightly on February 9

The domestic cobalt price fell slightly on February 9

According to the data monitoring of the Business Agency, as of February 9, the domestic cobalt price was 290000 yuan/ton, down 0.24% from 290700 yuan/ton on February 8 of the previous trading day. The domestic cobalt price fell slightly on February 9.

Analysis points

The cobalt price in LME market is weak and stable, the decline of MB cobalt price slows down, and the decline of international cobalt price slows down; The recovery of domestic economy is slow, the production and sales of new energy vehicles are higher than expected but lower than reality, the sales of mobile phones are low, and the recovery of cobalt market demand is less than expected. The import of cobalt raw materials has increased greatly, and the supply of cobalt is sufficient.

Aftermarket expectation

The decline of the international cobalt price slowed down, the demand recovery was less than expected, and the supply of cobalt market was sufficient. It is expected that the cobalt price will fall slightly in the future.