The domestic cobalt price fell sharply this week

According to the data monitoring of the Business News Agency, as of February 7, the cobalt price was 291700 yuan/ton, down 3.06% from 300900 yuan/ton on January 29; The cobalt price fell by 1.52% from 296200 yuan/ton on February 1. Both supply and demand in the cobalt market are weak, the international cobalt price has dropped sharply, and the domestic cobalt price has fallen in shock.

MB cobalt price plummeted

From the statistical table of MB cobalt price, it can be seen that the price of MB cobalt fell sharply this week, and the international cobalt market fell, which was negative for the domestic cobalt market, and the downward pressure on the domestic cobalt price increased.

LME cobalt price plummeted

It can be seen from the LME cobalt price trend chart that the ME cobalt price fell sharply this week, the international cobalt price fell, the domestic cobalt market was negative, and the domestic cobalt price fell under increasing pressure.

 
Overview and prospect

Bai Jiaxin, a data analyst at the Business News Agency, believes that the international cobalt price has fallen sharply, which is bad for the domestic cobalt market. The domestic cobalt market demand has warmed less than expected, and the domestic cobalt price is under increasing pressure. It is expected that the future cobalt market will fall in shock.