Cobalt is an important strategic metal, is an excellent alloy and battery material, widely used in battery materials and alloy manufacturing. The recent rise in cobalt prices, touched the industry's nerves.
Why does cobalt prices soar?
According to industry data, February 22, the reference price of metal cobalt is 377,000 yuan per ton, and just four months ago, that is, October 22, 2016, metal cobalt offer at around 220,000 yuan per ton , Or more than 70%. Only in February this year, February 1 metal cobalt price of 295,000 yuan per ton, this month has risen about 25%.
Multi-party sources show that affected by the price hike, Huayou Cobalt, Green Mei and Jinchuan Group, the three largest domestic suppliers of cobalt cobalt products are difficult to find a part of cobalt products to suspend the offer. In the securities market, the cobalt industry-related listed companies have a substantial increase in stock, such as Huayou Cobalt 23 evening announcement that the company for three consecutive trading days on the closing price increase over the cumulative value of more than 20%.
In 2008-2016, the price of cobalt has been relatively stable, why in the near future explosive growth? In the industry view, causing the price of cobalt is the most direct and the most fundamental reason is the explosive growth of three yuan lithium battery.
In recent years, ternary batteries have become one of the important applications of cobalt. Although the amount of cobalt alone is small, but with the introduction of the national new energy vehicle subsidies New Deal, ternary battery due to the advantages of energy density favored, a large number of power battery companies will focus on the production of three yuan battery.
"In 2016, more than 80% of China's cobalt demand from the battery field.Especially since the fourth quarter of last year, ternary battery demand concentrated out of the current new energy passenger cars and special vehicles to the ternary battery is the trend, ternary batteries accounted for Than the increase will be a long-term increase in the demand for cobalt. "Union Securities analyst Ma Song told reporters.
Cobalt prices are still rising
In recent years, in addition to commodity trade speculation, the main reason is the cobalt supply and demand fundamentals imbalance brought high prices. To stabilize cobalt prices, expansion of production capacity may be the fundamental way. But the elasticity of cobalt production is not large, "production is not on the said."
"China's cobalt resources, rather than the processing capacity of the problem." Ma Song bluntly. According to the US Geological Survey 2014 data, the world has proven the amount of cobalt resources is 25 million tons, reserves of 7.2 million tons, reserves are highly concentrated in the Congo (gold), Australia and Cuba. The three countries account for 70% of the world's total reserves. While China's reserves are only 80,000 tons, accounting for 1.1% of global reserves.
Ma Song further said that China's nearly 90% of cobalt raw materials imports from the Congo, but the Congo political instability, this political risk will bring a great impact on the supply of cobalt.
"At the same time the cobalt mine belongs to the associated mine, associated with the copper mine, if only the rise in cobalt prices is not enough to offset the cost of mining, but with the rise in copper prices, cobalt development is also the impulse to think that the impact of Congolese political