The domestic cobalt price fluctuated and fell this week

According to data monitoring by Business News Agency, as of March 17, the cobalt price was 304700 yuan/ton, down 2.21% from 311600 yuan/ton on March 10. Cobalt market demand is weak, and domestic cobalt prices have fallen in a volatile manner.

Global smartphone shipments expected to decline

According to the quarterly tracking report of International Data Corporation (IDC) mobile phones, it is still difficult to be optimistic about the smartphone market in 2023. In 2023, the shipment volume of the global smartphone market will be less than 1.2 billion units, a year-on-year decrease of 1.1%; The shipment volume in the Chinese market is expected to be only 283 million units, down 1.1% year-on-year. Inflation and uncertainty in the global economy have weakened the recovery in consumer demand. The global and Chinese smartphone markets have rebounded, but they still face serious threats. The recovery in mobile phone market consumption is less than expected, and the expected decline in mobile phone shipments in 23 years is expected, while the expected decline in cobalt market demand.

Sales of wearable devices plummeted

According to the latest report by market research agency Canalys, the global wearable bracelet market shipped 50 million units in the fourth quarter of 2022, a year-on-year decrease of 18%. Due to factors such as Christmas, the fourth quarter is usually the peak season. As a “new upstart” in consumption, smart wearable devices are the “second battleground” in the mobile phone market. Smart watches have been in a steady growth state, but in the fourth quarter of the traditional peak season of 22 years, there has been an abnormal two-digit decline. Sales of smart watches of various major brands have experienced significant declines in varying degrees in the fourth quarter, with weak consumption in the downstream of the cobalt market and increased downward pressure on cobalt prices.

Overview and outlook

Bai Jiaxin, a data analyst at Business News, believes that mobile phone sales have fallen short of expectations, wearable device sales have plummeted, cobalt market demand is weak, and cobalt prices have fallen in a volatile manner.