On September 17, the price of cobalt in the main non-ferrous metal spot market in China remained stable. The average price of cobalt was priced at RMB 49,0250.00/ton, which was stable compared with the previous trading day, up 13.97% year-on-year.
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On September 17, the price of metal cobalt in major domestic manufacturers was temporarily stabilized. The average price of cobalt ex-factory was 52,5000.00 yuan/ton, which was stable compared with the previous trading day.
On September 16th, the cobalt commodity index was 176.17, which was the same as yesterday. It was 26.26% lower than the highest point of 238.91 points (2018-04-15) in the cycle, which was 152.25% higher than the lowest point of 69.84 on July 5, 2016. (Note: Period refers to 2011-09-01 to date).
On September 17, the domestic price of cobalt was temporarily stabilized, and the price of cobalt powder in Shanghai remained stable, and the actual transaction price remained stable. On September 17, the domestic cobalt price of Wuxi Stainless Steel Electronic Trading Center was 476,000-496,000 yuan/ton, and the price of cobalt was stable. On September 17, the stock was 472 tons, and the inventory decreased by 2.25 tons. The supply of cobalt is at a high level, and the cobalt market is in an oversupply state. In terms of demand, the cobalt market has a certain transaction, but the market is still based on on-demand procurement. In the international market, the price of cobalt and MB in the LEM market in London increased, and the domestic market followed suit. However, the overall supply-demand relationship did not change significantly. The high supply and low demand led to the weakening of the cobalt price and the risk of falling. However, due to the high price of the international cobalt mine in the early stage, the import cost of cobalt mine is relatively high, and the space for cobalt price decline is limited.
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In terms of market outlook, the increase in international cobalt prices has led to a rise in domestic cobalt prices. However, due to the absence of major changes in the supply and demand of cobalt, the overall supply of cobalt is oversupplied, cobalt prices are difficult to maintain, and domestic cobalt prices are still at risk of decline. It is expected that the price of cobalt will fluctuate and stabilize. The price of cobalt is stable.