Domestic cobalt price rises again

According to the data monitoring of the business association, the cobalt Market in June changed from the weak trend in the early stage, and the cobalt price has been rising continuously since the middle of June. As of June 30, the cobalt price was 365000 yuan / ton, up 6.52% from 342666.66 yuan / ton on June 17. In June, the price of cobalt rose again, whether the cobalt market can usher in another outbreak.

Cobalt market is good and stimulating

According to the statistics released by the National Bureau of statistics, the domestic mobile phone production in May 2021 was 132.533 million, up 16.9% year on year; In the past 21 years, the domestic mobile phone production rose year-on-year, with an increase of more than 10% in the past 21 years.

According to the latest data released by China Automobile Association, in May, China’s production and sales of new energy vehicles were 217000, with a year-on-year growth of 1.5 times and 1.6 times respectively, continuing to refresh the historical record of the month. The great increase of new energy vehicle production and sales is good for the cobalt market, and the demand of cobalt market is expected to rise in the future.

According to the statistics of Gaishi automobile, in May, the global new energy vehicle market received good news and continued to recover. The monthly sales of new energy vehicles in all countries showed a three digit year-on-year growth, led by the growth rate of over 600% in the UK; Many countries have reopened, and business confidence has boosted economic recovery. Some government subsidies for electric vehicles and increased investment in crossover vehicles have injected a “booster” into the new energy market. The global new energy vehicle market has a bright future, and the demand for cobalt is expected to rise in the future.

Cobalt Market Risk news

It can be seen from the statistical data released by China Academy of information technology that in May 2021, the domestic market mobile phone shipment volume was 22.968 million, a year-on-year decrease of 32.0%. From January to may, the total domestic market mobile phone shipment volume was 148 million, a year-on-year increase of 19.3%. From the data of the first five months of 2021, the domestic mobile phone market still maintained rapid growth, showing an overall upward trend. However, in April and may 2021, the mobile phone shipment decreased year-on-year, the upward trend of the mobile phone market slowed down, and the upward momentum of the cobalt Market weakened.

According to the data released by the State Administration of market supervision and administration, up to now, Jiangnan motor has recalled some zhongtaiyun 100s electric vehicles, Tesla motor (Beijing) and Tesla motor (Shanghai) have recalled some imported and domestic model 3 and domestic model y electric vehicles, and Zhengzhou Daily has recalled some Shuaike pure electric vehicles, In 2021, the enterprises recalled 1.2838 million defective new energy vehicles, accounting for 22.13% of the total number of new energy vehicles. The recall of new energy vehicles with multi brand, multi quantity and high proportion will make consumers have doubts about the quality of new energy vehicles, or affect the sales of new energy vehicles in the future.

Market Overview

Bai Jiaxin, a data analyst at business news agency, believes that with the increase of mobile phone production, the global and domestic markets of new energy vehicles have risen sharply, and the demand for cobalt market has risen, and the cobalt market is more favorable. However, in April and may, the shipment volume of mobile phone market decreased year-on-year, the demand for cobalt in mobile phone market declined, the large-scale recall of new energy vehicles increased consumers’ worry about the quality of new energy vehicles, and the sales volume of new energy vehicles in the future may not be as expected. Generally speaking, the demand of cobalt market is expected to rise in the future, but the overall rise may not be as expected. The support for the rise of cobalt market is insufficient, and the power for the continuous rise of cobalt price is limited. It is expected that the cobalt price will not break the 400000 yuan mark in the future.