The price of cobalt continues to rise recently as the peak season of lithium electricity approaches.

The peak season of consumer lithium electricity in the third quarter is approaching, and the import of superimposed cobalt raw materials has declined. In June, the cobalt market changed the previous weak trend, and cobalt prices have risen continuously since mid-June. As of June 30, the price of cobalt was 365000 yuan / ton, up 6.52% from 342666.66 yuan / ton on June 17.

The agency pointed out that cobalt demand will benefit for a long time from factors such as the continuous discharge of new energy vehicles and the continuous increase in single-machine power of 3C terminal equipment, while cobalt supply is limited by the decline in mine grade and stricter hand-grasping management, resulting in the growth rate of supply lower than that of demand. Therefore, the supply and demand pattern of the cobalt industry will be further optimized, and the cobalt price center will move up accordingly. The cobalt industry may maintain a tight balance from 2021 to 2022, and the cobalt industry is expected to be in short supply in 2023. And the current cobalt bull market is mainly driven by real demand, which is healthier, more sustainable or better than the previous cobalt price rise.

According to the theme database of the Financial Associated Press, among the relevant listed companies:

Hanrui Cobalt Industry by the end of 2020, the production capacity of the company's products are 3000 tons of cobalt powder, 5000 tons of cobalt hydroxide.

Luoyang Molybdenum is the second largest cobalt producer in the world. After the acquisition of the Kisanfu copper and cobalt deposit in the Democratic Republic of the Congo in December 2020, the amount of cobalt resources increased from 2.4873 million tons to 5.5898 million tons.