SMM May 28th Lithium Cobalt spot Express: slow recovery of downstream digital market spot transactions sporadic

SMM, May 28th:

At present, the mainstream transaction price of 4.35V lithium cobalt in the Chinese market is 19.2-197000 yuan / ton, with an average price of 194500 yuan / ton, the same as the previous day. Although some manufacturers have raised their quotations due to the rising price of raw material cobalt tetroxide, downstream battery manufacturers are less willing to receive goods.

Although overseas digital market demand has recovered since late May, the upstream transmission of the market is expected to take 2 months, which has not yet been reflected in the Chinese market. At present, the domestic cobalt raw material price is rising due to short-term spot supply. Although the price of some 4.4V or 4.45V lithium cobalt is relatively high, battery manufacturers think that the downstream demand is not enough to support the rapid price rise, and the superimposed lithium price still shows a downward trend. Market wait-and-see mood is heavy.