Cobalt prices fell sharply in June

According to the monitoring data of the business agency, the cobalt price fell sharply in June. As of June 30, the cobalt price was 377700 yuan / ton, down 15.22% from 445500 yuan / ton on June 1 at the beginning of the month. Cobalt market demand fell, cobalt market fell.

The sharp drop in mobile phone sales affects the demand of cobalt market

According to the data released by the China Academy of communications and telecommunications, the domestic market shipped 20.805 million mobile phones in May, a year-on-year decrease of 9.4%. From January to may, the total shipments of mobile phones in the domestic market totaled 108million, a year-on-year decrease of 27.1%. The sales volume of the mobile phone market fell sharply, and the demand for cobalt in the mobile phone market fell significantly. The demand for cobalt in mobile phones and other electronic products has been lower than that of new energy vehicles. The growth of new energy vehicles has greatly supplemented the demand of cobalt market, but the growth of new energy vehicles has not exceeded expectations, and the demand for cobalt by new energy vehicles has declined due to the epidemic. The overall demand for cobalt fell, and the downward pressure on cobalt prices increased.

The industrial chain of new energy vehicles recovers, and the demand of cobalt City recovers

According to the data released by the China Association of automobile manufacturers, the production and sales of domestic new energy vehicles in May were 466000 and 447000 respectively, up 49.5% and 49.6% month on month, with a year-on-year increase of 1.1 times. From January to may, the production and sales of domestic new energy vehicles reached 2.071 million and 2.003 million respectively, an increase of 1.1 times year-on-year. The production and sales of new energy vehicles rose sharply month on month, the new energy vehicle market recovered, and the demand of cobalt market recovered.

In terms of output, China’s power battery output in May totaled 35.6gwh, an increase of 157.9% year-on-year and 22.8% month on month. Among them, the output of ternary battery was 16.3gwh, accounting for 45.8% of the total output, with a year-on-year increase of 225.7% and a month on month increase of 58.2%. In terms of loading volume, the loading volume of power batteries in China reached 18.6gwh in May, an increase of 90.3% year-on-year and 39.9% month on month. Among them, the loading volume of ternary batteries was 8.3gwh, accounting for 44.7% of the total, with a year-on-year increase of 59.0% and a month on month increase of 90.3%. At present, lithium iron phosphate is still ahead of ternary batteries in terms of production and loading volume, but the growth rate of ternary batteries is higher than that of lithium iron phosphate batteries, which has narrowed the gap with the market share of lithium iron phosphate. As more high-end consumer brands enter the new energy vehicle market, the utilization rate of ternary batteries will be improved. The output of ternary battery increased, and the demand of cobalt market increased.

Market Overview

Baijiaxin, a data analyst at business news agency, believes that the sharp decline in mobile phone sales has affected the demand of cobalt market, the demand of new energy vehicle industry chain has warmed up, and the demand of cobalt market has recovered, but the overall decline in cobalt market demand is less than expected, and the overall decline in metal plates has affected the cobalt market. In the future, the recovery of cobalt market demand may be less than expected, the metal plate fell in an all-round way, and the pressure of cobalt price decline increased. It is expected that the cobalt price will fluctuate slightly in the future. However, new energy vehicles still play a great supporting role in the cobalt market, and there is limited room for the decline of cobalt price, 350000 yuan or the decline threshold of cobalt price.