Trend analysis
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According to the data of the business agency, the cobalt market fluctuated in September and the price of cobalt remained stable. As of September 21, the average price of cobalt was 274500.00 yuan / ton, down 1.32% from 278166.66 yuan / ton on September 1. In September, the demand of cobalt market recovered, and the price of cobalt fluctuated to maintain stability.
Domestic mobile phone sales
According to the statistics of China Academy of communications and communications, in August 2020, the total volume of domestic mobile phone market was 26.907 million, a year-on-year decrease of 12.9%; from January to August, the total volume of domestic mobile phone market was 202 million, a year-on-year decrease of 19.5%. Mobile phone sales decreased year on year, but rose month on month. Domestic cobalt market demand decreased year on year, but slowly recovered. Cobalt market has certain upward momentum but insufficient support.
Domestic sales of new energy vehicles
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According to the data of CAAC, in August 2020, the production and sales of new energy vehicles will reach 106000 and 109000 respectively, with a month on month increase of 6.0% and 11.7%, and a year-on-year increase of 17.7% and 25.8%; from January to August, the production and sales of new energy vehicles reached 602000 and 596000, with a year-on-year decrease of 26.2% and 26.4%. In August, the production and sales of new energy vehicles both rose sharply on a month on month basis, but the overall production and sales still declined in 2020, which was good for the cobalt market, and the driving force for the rise of cobalt price increased, but the overall driving force was insufficient.
Market Overview
Bai Jiaxin, a data analyst at the business agency, believes that the cobalt market fluctuated and adjusted in September, the mobile phone market and the new energy vehicle market gradually recovered in August, and the stimulation of the state’s purchase and storage news all contributed to the demand for cobalt market. The domestic cobalt market demand rose, but the production and sales of new energy vehicles and mobile phones fell sharply year-on-year, indicating that the cobalt market demand is not enough to support the continuous rise of the cobalt Market and the national income Reserve uncertainty does not support the continued rise in cobalt prices. Overall, the support for the rise of the cobalt market is insufficient, and the price of cobalt fluctuates to maintain stability.
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