Cobalt price rise has exceeded expectations or will return to rational level

In the second quarter of 2020, the total import volume of cobalt raw materials was 16800 tons, with a year-on-year decrease of 19%. Among them, the total import amount of cobalt ore was 0100 tons of metal tons, with a year-on-year decrease of 92%; the total import of intermediate products of cobalt hydrometallurgy was 15800 tons of metal tons, with a year-on-year decrease of 15%; the total amount of raw cobalt imports was 0800 tons of metal tons, with a year-on-year increase of 57%.

The price of cobalt in the domestic market has risen sharply. Since the middle of July, the prices of electrolytic cobalt, cobalt sulfate and cobalt chloride have increased by nearly 10% – 11%, which is higher than that of the previous May June period. The price increase of electrolytic cobalt, cobalt sulfate and cobalt chloride from may to June is only about 3-4%.

Price changes of SMM cobalt products from May 8 to July 31, 2020

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After the middle of June, the specific price of electrolytic cobalt to cobalt sulfate gradually tends to 1, mainly due to the demand for battery materials

        Comparison of SMM cobalt products from May 8 to July 31, 2020

From May to June this year, the only factor supporting the price rise was the closure of South Africa in April, and the shortage of domestic cobalt raw materials from May to June. However, the domestic market smelting product fundamentals are still oversupply, cobalt sulfate began to appear in the month of de stocking, fundamentals improved. Downstream demand did not significantly improve, superimposed 3C digital electronic demand into the procurement off-season, the price rise was small.


Post time: Sep-11-2020