The growth of new energy vehicles may not be as expected.Īccording to the data released by China Automotive Power Battery Industry Innovation Alliance, in terms of output, in August, China's power battery output totaled 50.1 GWh, of which the output of ternary battery was 19.3GWh, accounting for 38.4% of the total output. In the future, the traditional golden September and silver October consumption seasons will still stimulate the consumption of new energy vehicles, but the oil price returns to the 7th era, and the replacement of fuel vehicles is delayed. In addition to the government's policy stimulus to stabilize the economy and promote consumption, the early order fulfillment and the replacement of fuel vehicles brought about by high oil prices are important reasons. The domestic cobalt price rebounded slightly.Īccording to the data of China Automobile Association, in August, the production and sales of new energy vehicles in China reached 691,000 and 666,000 respectively, and the monthly production and sales reached a new record high, with production and sales increasing 1.2 times and 1 times respectively year on year.In August, new energy vehicles achieved such performance. However, the international cobalt price continued to rise, which was good for the domestic cobalt market. The pressure on the cobalt price to fall increased. The domestic cobalt market demand was poor and the supply increased. In September, the cobalt price fell first and then rose. In September, domestic cobalt prices fell in shockĪccording to the data monitoring of SunSirs, as of September 30, the cobalt price was 346,300 RMB/ton, down 1.20% from 350,500 RMB/ton on September 1 at the beginning of the month.

Cobalt price