Molybdenum News Center

Electrolytic Nickel Price - September 2, 2020

Cobalt price is unchanged from the previous trading day under interwoven negative and positive factors. 

On the supply side, the epidemic situation in Africa is severe, resulting in production reduction. In addition, domestic purchases and reserves are still expected in the fourth quarter. The industry is concerned about the supply of cobalt raw materials in the future; on the demand side, the demand recovery in new energy vehicles, 5G, etc. at home and abroad seems slow and the benefit for the market is limited. 

Lithium price remains stable as the market is in a stalemate without positive news. Most market participants take a watchful stance. The latest report released by the Chilean Copper Commission shows that Chile's lithium mine production is driven by the development of the electric vehicle industry and is expected to double its output in 2030.

Electrolytic nickel and ni-resist cast irons prices edge higher thanks to tight supply of raw materials. The current coronavirus, strikes of workers and seasonal floods and other disasters have a negative impact on the production of raw material in Indonesia. Concerns for the supply side increase, plus with gradual recovery in stainless steel and new energy vehicles industries, the nickel market is expected to keep firm in the short term.

Prices of cobalt, nickel and lithium products on September 2, 2020

Picture of cobalt chloride

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