Trend analysis

According to the data monitoring of the business association: after the new year’s day, the Spring Festival stock is around the corner, the cobalt market is very good, and the cobalt price is soaring. As of January 6, the price of cobalt was 289666.66 yuan / ton, up 6.23% from 272666.66 yuan / ton on January 1. In 2021, the cobalt market will have a good start, and the cobalt price will soar.

The situation in Africa affects the supply of cobalt Market

Secretary General’s special representative for the Democratic Republic of the Congo, Leila Zerrougui, pointed out at the Security Council’s briefing on the situation in the Democratic Republic of the Congo that the political tension in the Democratic Republic of the Congo has increased, including the rift within the ruling coalition and the threat of the president dissolving the national assembly. The increasing political risks in the DRC affect the supply of cobalt Market and increase the pressure of cobalt price rise.

Since the end of November, the epidemic situation in Africa has worsened again. Namibia, Congo (DRC), South Africa, Senegal, Zimbabwe and other African countries have tightened epidemic control measures to cope with the deterioration of the epidemic. The deterioration of the epidemic situation is bad for the supply of cobalt, the transportation risk increases, the transportation cost of cobalt ore increases, and the driving force of cobalt price increases.

A new round of stimulus policies for economic recovery

The European Central Bank announced the interest rate resolution to maintain the interest rate unchanged, increase the emergency anti epidemic bond purchase program (PEPP) by 500 billion euros to 1.85 trillion euros, and extend the term for nine months. The PEPP program will be extended to March 2022 at least, and the quantitative easing policy will continue until shortly before the interest rate rises. The Federal Reserve extended the termination date of the main street loan program from 2021 to January 8, and the United States launched a $900 billion second round of fiscal stimulus. Countries around the world have successively launched a new round of economic stimulus policies, which will further increase market flow and stimulate the economic recovery. The production and sales of new energy vehicles are expected to continue to increase. The demand of cobalt market is expected to pick up in the future, and the market of cobalt is good.

Market Overview

Bai Jiaxin, data analyst of business news agency, believes that with the Spring Festival stock coming soon, domestic cobalt market demand rises slightly in the short term, and cobalt price rises more vigorously; on the supply side, affected by the worsening epidemic situation in Africa, Africa’s logistics transportation is limited, and the political risk of DRC is increasing, which affects the supply of cobalt, and the rising pressure of cobalt Market surges. Under the background of intensified global economic recovery, the production and sales of new energy vehicle industry are expected to continue to increase, the production and sales of mobile phones are expected to recover, the global demand of cobalt market is expected to increase greatly in 2021, and the rising power of cobalt Market in the future is huge. Generally speaking, the supply or short-term shortage of cobalt market, the long-term and short-term strong demand of cobalt market, and the rising power of cobalt market are huge. It is expected that the rising space of cobalt Market in the future is huge, and the cobalt price may hit the high of 350000 yuan / ton before the year.