The price of metallic cobalt has risen by over 20% during the year. Currently, the price per ton already exceeds 660,000 yuan .
The latest price in domestic cobalt market is RMB 662,500 per ton. In addition, the EXW price of cobalt metal is 680,000 yuan per ton. At the beginning of the year it was only 530,000 yuan per ton. After mid-January, the crazy uptrend began. By the end of February, the price had exceeded 600,000 yuan . Coming to April, the price even had been over 660,000 yuan .
As an indispensable raw material for electric vehicles and batteries, the price of metallic cobalt has started to rise since 2008, and doubled in the past two years.
For the prospective trend of cobalt prices, a number of institutions have given the rise ratings. On the one hand, Congo, the world's first cobalt producing country, has encountered a bottleneck in production, which has limited the production of cobalt; on the other hand, automakers including the Volkswagen Group and BMW have taken a large amount of goods in advance. Unbalanced supply and demand will inevitably lead to a rise in the price of metal cobalt .
So with the continuous rise of raw material price ,in order for our company’s development ,we have to make some adjustments in our battery price from April 1st,please kindly note that.
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