1、 Trend analysis

 

According to the data monitoring of business agency, the domestic cobalt price rose steadily after new year’s day. As of January 7, the price of cobalt was 271166.66 yuan / ton, up 1.75% from the average price of 266500.00 yuan / ton on December 31. Cobalt price rises steadily in the new year. Will the market continue in 2020? How much will the future increase?

 

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2、 Market analysis

 

LME cobalt price

 

From the trend chart of LME cobalt price, it can be seen that after the new year’s day, the price of LME market rose after the fall, and the international cobalt market recovered, but the overall upward momentum is limited, and the future market is good, but the risk of catching up is large.

 

Domestic market analysis

 

Inventory date, variety, inventory quantity, delivery quantity unit

451.5 tons of 2020-1-7 cobalt

2020-1-6 cobalt 448 2 tons

3902 tons of 2020-1-3 cobalt

390.75 1.5 tons of 2020-1-2 cobalt

2019-12-31 cobalt 400 9.25 tons

December 30, 2019 378 2 tons of cobalt

December 27, 2019 379.25 1.25 tons of cobalt

251.5 1.25 tons of cobalt 2019-12-26

248 3.5 tons of cobalt 2019-12-25

231 3 tons of cobalt 2019-12-24

243.5 27.5 tons of cobalt 2019-12-23

256 11.5 tons of cobalt 2019-12-20

It can be seen from the inventory table of Wuxi stainless steel trading center that with the increase of market cobalt price in recent years, the cobalt inventory of Wuxi stainless steel trading center market has increased substantially, while the volume of transactions has not increased significantly. There are still a lot of social stocks in the market. When the price of cobalt rises, the stock cobalt is put into the market to cash out. The supply of cobalt market is sufficient, and the rising power of later cobalt market is insufficient.

 

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3、 Future prospects

 

According to Bai Jiaxin, a data analyst of business agency, domestic cobalt price continued its previous trend after new year’s day, and the price of cobalt fluctuated and rose. However, relatively speaking, this wave of price trend was relatively stable, and the price of cobalt rose slightly and steadily. From the international and domestic market environment, it is not difficult to see the reasons for this trend. In the international market, the LME cobalt price rises after the new year’s day, and the MB market cobalt price rises, which has a certain positive impact on the domestic cobalt market. In the domestic market, the social inventory of the cobalt market is still large, the supply of the cobalt market is sufficient, the rising power of the cobalt market is limited, and the rising trend of the cobalt price slows down. As the Spring Festival approaches, domestic manufacturers prepare goods in advance, and customers The short-term increase of cobalt market demand has a certain role in promoting the price of cobalt. However, with the end of the Spring Festival stock up, the price of cobalt has lost its support, and the price of cobalt will return to stability. Generally speaking, the recent cobalt market has a certain increase support, but the positive momentum is insufficient. In the future, the cobalt price will mainly maintain strong stability, or rise slightly in the short term.

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