Domestic cobalt price rose on March 1

According to the data monitoring of business agency, the domestic cobalt price rose on March 1, and the cobalt market picked up. On March 1, the price of cobalt was 547500 yuan / ton, up 0.18% from 546500 yuan / ton on the previous trading day; The cobalt market recovered, and the cobalt price fluctuated and rose.

Key points of analysis

The increase of international cobalt price is lower than that of domestic cobalt price, and the price difference at home and abroad is reduced; The consumption growth of new energy vehicles exceeded expectations, the demand growth of cobalt market exceeded expectations, the output of ternary batteries increased sharply year-on-year, the demand of cobalt market was strong, and the rising power of cobalt market was large. Cobalt prices rose too fast in February, and the risk of future decline remains.

Future forecast

The demand exceeded the expectation, the cobalt price rose sharply, the price difference between domestic and foreign cobalt prices decreased, the cobalt price rose too fast, and the risk of decline still exists. It is expected that the cobalt price will stabilize in the future.