Domestic cobalt price rose on May 5
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According to the data monitoring of business agency, the cobalt price rebounded and rose on May 5, and the cobalt market recovered. On May 5, the price of cobalt was 541800 yuan / ton, up 0.33% from 540000 yuan / ton on the previous trading day; After the festival, the cobalt price rebounded and rose, and the cobalt market recovered.
Key points of analysis
The international cobalt price fluctuated and rose, with a large price difference at home and abroad; Tesla in Shanghai has resumed work and production, the installed capacity of ternary batteries is expected to rise, the demand of cobalt market is expected to pick up, the inflection point of the epidemic is not clear, the large-scale resumption of work and logistics transportation of enterprises have not been fully recovered, and the industrial chain of cobalt City is limited, and the supply and demand are both weak; The price rise of new energy vehicles was transmitted to the terminal, and the sales of new energy vehicles were lower than expected. Affected by rainstorms and floods, transportation in South Africa is blocked, and the supply of cobalt ore is expected to be limited in the future, and the rising power of cobalt market is increased.
Future forecast
The resumption of work is coming one after another, the demand is slowly picking up, the transportation in South Africa is blocked, the supply of cobalt market is reduced, and the cobalt price is expected to rise slowly in the future.
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