In December, domestic cobalt prices fell in shock

According to the data monitoring of the business community, as of December 31, the domestic cobalt price was 323400 yuan/ton, down 3.20% from 334100 yuan/ton on December 1. The supply and demand of the cobalt market are weak, the decline of the international cobalt price is accelerating, the cobalt salt price is weak, and the domestic cobalt price falls in shock.

MB price fluctuated and fell

It can be seen from the MB price trend chart that in December, the MB price fell in shock, the decline of the international cobalt market accelerated, the domestic cobalt market was negative, and the domestic cobalt price fell.

Decrease in import of cobalt raw materials

From the trend chart of cobalt raw material import, it can be seen that due to the strike in South Africa ports, domestic cobalt raw materials were insufficient in November. In November, the import of cobalt raw materials decreased significantly year on year, the supply of cobalt market decreased, and the downward pressure on cobalt prices weakened. The upward momentum increased. From January to November, the cumulative import volume of cobalt raw materials increased year on year, and the overall supply of cobalt market was sufficient.

Declining demand in cobalt market

In recent years, the performance of mobile phones has been excessive, and the innovation of new products has been reduced, resulting in the lack of mobile energy for consumers. Consumer demand for mobile phones continues to decline, and the domestic smartphone replacement cycle is expected to increase to 34 months. According to the latest report of IDC, it is estimated that in 2023, the shipment volume of China’s mobile phone market will decline 0.9% year on year, narrowing the decline; Although the epidemic prevention policy is relaxed, the national consumption level still needs a recovery period. 3C market consumption is low, and cobalt market demand is low.

Overview and prospect

Bai Jiaxin, a data analyst from the business community, believes that the international cobalt price fell in December, the cobalt salt price fell, and the domestic cobalt market was negative. In terms of supply and demand, although the import volume of cobalt raw materials has declined significantly, the demand of cobalt market is sluggish. The supply of cobalt market is still sufficient in the short term, and the support for the rise of cobalt price is insufficient. It is expected that the weak shock of cobalt market will be lowered in the future.