-Cobalt prices have dropped by nearly 30% within two months, and the growth rate of A-share cobalt companies has significantly decreased

Cobalt prices have dropped by nearly 30% within two months, and the growth rate of A-share cobalt companies has significantly decreased
author:enerbyte source:本站 click314 Release date: 2023-10-11 09:02:56
abstract:
Benefiting from the incremental demand brought about by the increased production and sales of new energy vehicles, the price of cobalt metal has skyrocketed in the first two years, driving the performance of related listed companies to blowout. However, with the recent decline in cobalt prices...

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Benefiting from the incremental demand brought about by the increased production and sales of new energy vehicles, the price of cobalt metal has skyrocketed in the first two years, driving the performance of related listed companies to blowout. However, with the recent decline in cobalt prices, the performance growth rate of A-share listed companies such as Huayou Cobalt, Hanrui Cobalt, and Luoyang Molybdenum has significantly slowed down.

Reporter Xie Hongchen Interns as Editor Liang Xiao

Benefiting from the incremental demand brought by the increase in production and sales of new energy vehicles, cobalt metal has enjoyed great success in the past two years, with its prices soaring all the way. But since the second half of this year, the prices of metal cobalt and its related products have started to decline, especially since October, the prices of cobalt products have significantly decreased.

Regarding this, researchers in the cobalt industry told the Daily Economic News that there are many reasons for the decline in cobalt prices, including weak downstream demand and previously inflated cobalt prices. It is expected that cobalt prices will continue to decline in the future.

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