[SMM analysis] the price of cobalt sulfate reduced by cobalt sulfate in a leading cobalt smelter in East China may hit bottom in a short time.

Published: Jun 6, 2019 08:49

SMM, June 6 / PRNewswire-Asianet /-

Recently, the cobalt sulfate market has been in the doldrums. On June 5, SMM cobalt sulfate quoted 4.1-43000 yuan per ton, with an average price of 42000 yuan per ton. The discount price for electrolytic cobalt and cobalt chloride was 40, 000 yuan and 10, 000 yuan, respectively. And cobalt sulfate raw material cobalt hydroxide price is higher, SMM June 5 cobalt hydroxide quotation 9.7 US $10.2 / lb, enterprise profitability is damaged, production power is insufficient. According to SMM research, in order to cope with the low market price of cobalt sulfate, a leading cobalt smelter in Zhejiang has converted about 400 tons of cobalt sulfate production capacity to nickel salt since May, and in order to cope with the risk of subsequent cobalt price fluctuations, actively go to finished product inventory. The downturn of cobalt sulfate market is directly related to the weakening of dynamic market demand. Recently, the production of ternary materials market has shrunk, the demand for upstream raw materials has shrunk, the battery factory has adjusted the demand structure, and the demand for 56 series products has declined in the short term. The market expects three yuan of demand or maintain the current level in the next two months, it is difficult to grow. According to SMM data, from January to April 2019, the cobalt sulfate balance in China showed that cobalt sulfate stocks were about 600 metal tons. In May 2019, China's cobalt sulfate production or month-on-month decline of 11%, the balance between supply and demand in May showed de-inventory. As a result, the price of cobalt sulfate may hit bottom in the short term.

SMM Cobalt Lithium Research team

Hu Yan 021 51666809

Hong Lu 021 51666814

Ning Ziwei 021 51666780

Qin Jingjing 021 51666828

2019 (fourth) Ni-Co-Li-mn Industry chain Summit-Global Lithium Technology Symposium invites cathode materials and lithium battery enterprises to explore the new trends of industrial chain development, interpret industry policy trends, and analyze future price trends! Review 2018 with 90% of the bosses, purchasing and general workers in the industry, look forward to 2019, and imagine 2020!

Meeting details: 2019 (fourth) Ni-Co-Li-mn Industry chain Summit (click on the link to see details)

[2019 Ni-Co-Li-mn Industry chain Summit]

Boutique meeting, New year feast!

Summit consultation, Ms. Wang

15221119163 (same as WeChat)

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
19 hours ago
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
Read More
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State
19 hours ago
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
19 hours ago
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
Read More
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.
19 hours ago
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
19 hours ago
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
Read More
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.
19 hours ago