Latest Update in the China Cobalt Market

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 25, 2020

China’s annual electric bicycle sales have exceeded 30 million units in the past few years, with social e-bike ownership rising close to 300 million units, and output of bikes over 1,000 yuan continues to increase, according to China Bicycle Association.

The dollar fell on Tuesday as risk appetite improved after U.S. President Donald Trump accepted the transition to a Joe Biden presidency and on optimism that COVID-19 vaccines are close to being rolled out.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 24, 2020

Battery-grade lithium hydroxide prices in China have been falling since the start of H2 on stable demand but rising supply, down about 12% from early 2020. Compared with lithium carbonate, lithium hydroxide prices remained above cost lines, but some lithium salts producers are pessimistic about battery-grade lithium hydroxide prices in 2020.

The dollar bounced off an almost three-month low against a basket of currencies hit on Monday following optimism over another COVID-19 vaccine as the index approached a technical support level that if broken, could signal further weakness for the greenback.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on November 23, 2020

Prices of battery-grade lithium carbonate have been climbing steadily recently.