Cobalt sulfate prices lower on June 19

       Price Quotes

Today, the cash quotation including tax in China's cobalt sulfate (Co≥ 20.5%) market fell, currently between 46800 and 47900 yuan/ton, with an average price of 47350 yuan/ton, down 100 yuan/ton from yesterday.

Integrated

According to CBC research, the price of cobalt sulfate in China is lower today. The market presents a weak balance between supply and demand. New energy battery industry chain procurement rhythm is stable, front-drive enterprises on demand to supplement the library, traders offer the overall stability. Raw material end cobalt intermediate cost support still exists, but the downstream acceptance of high prices is limited, the market transaction to long single execution mainly. Short-term prices or the continuation of narrow volatility, need to pay attention to the June power battery scheduling plan on demand guidance.

Domestic market

At present, the domestic cobalt sulfate market continues to be weak and stable. Cobalt sulfate trading activity in East China has rebounded, some salt plants due to equipment maintenance led to tight in stock supply. Precursor enterprise procurement remains cautious, but the demand for ternary materials moderate growth to form a bottom support. Environmental policy restrictions on small and medium-sized smelters continue, and industry inventories remain within a reasonable range. The market's sensitivity to the adjustment of the subsidy policy for new energy vehicles is heating up, the 3 quarter consumption season is expected or phased to boost market sentiment, short-term prices or continue the pattern of volatility.

international market

The overseas cobalt sulfate market fluctuates in a narrow range, and the efficiency of African mine shipments has improved, but the expansion of the battery industry chain in Southeast Asia has led to a rise in procurement demand in the Asian region. The European market was affected by the transfer of lithium-ion production capacity, the in stock trading volume contracted, and some buyers turned to China to import supplementary sources. International maritime tensions have eased, but exchange rate fluctuations still interfere with traders' pricing strategies, and short-term markets remain deadlocked.

Aftermarket Forecast

In the short term, the price of cobalt sulfate may show a range-bound trend. In the 3 quarter, the production and sales of new energy vehicles rebounded or led to the demand for replenishment of the front-drive enterprises, but the iteration of regenerative cobalt purification technology may inhibit the price rebound momentum. The African logistics bottleneck at the raw material end forms a long-short game with the release of intermediate goods in Indonesia, and the downstream low inventory strategy may amplify the elasticity of price fluctuations. It is important to note that the commercialization of solid-state battery technology accelerates the risk of replacing traditional cobalt demand.