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Market Trend and Demand Strong demand for downstream lithium batteries Will Affact the Price of cobalt hydroxide

According to data from the business agency, on July 27, the price of phosphoric acid rose by 6.8% from the previous day, ranking first in the commodity increase list.

According to statistics, since July 17, the cumulative increase in phosphoric acid has exceeded 15%.

Phosphoric acid is one of the raw materials for the manufacture of lithium iron phosphate. In the first half of this year, the installed capacity of lithium iron phosphate batteries in the installed capacity of new energy vehicles in the Chinese market rose to 42%, with a growth rate of 369.7%.

Battery China pointed out that due to the decline of new energy vehicle financial subsidies, car companies have increasingly strong demand for cost reduction in the battery sector. Car companies have launched popular models of lithium iron phosphate versions. According to Soochow Securities’ calculations, in 2025 The global demand for lithium iron phosphate will reach about 2.2 million tons, and the five-year compound growth rate will exceed 70%.

In addition, Founder Securities said that in addition to the downstream demand for lithium iron phosphate, the price of phosphoric acid, the raw material for phosphoric acid, rose due to power curtailment in Yunnan, which also drove the price of phosphoric acid.

Affected by Strong demand for downstream lithium batteries,the cobalt hydroxide market is changing rapidly. These changes are indicators of market growth.This year-on-year upward trend in the market indicates that the next November 2020-2026 will show an oval but steady growth.If you are looking for cobalt hydroxide or buy cobalt hydroxide in bulk,please send an email to: sales@ozbo.com

The price of cobalt hydroxide continues to be affected by factors such as market growth momentum,various opportunities and challenges.However,during the forecast period from 2020 to 2026,the global cobalt hydroxide sales market is expected to continue to be above average.The growth rate will continue to increase.It is expected that from today to next week,the price of cobalt hydroxide will increase to a certain extent.  

Due to changes in consumer demand,import and export conditions,and various investigations on the development of cobalt hydroxide,the cost of cobalt hydroxide is constantly changing.Taking into account the current market macroeconomic parameters, value chain analysis,channel partners,demand and supply,the cost of cobalt hydroxide will also be affected to a certain extent.It is estimated that the cost of cobalt hydroxide will increase slightly from today to next week.

However,Ozbo.com provides high purity Nano cobalt hydroxide with steady price.In order to feedback to old customers,the company is still in full operations to provide cobalt hydroxide with competitive price.said Olina,sales manager of Ozbo.com.

About Ozbo.com

Ozbo.com (aka.Tanki New Materials Co.,Ltd.) is a trusted global chemical material supplier & manufacturer with over 12 years experience in providing super high-quality chemicals and Nanomaterials.As a leading nanotechnology development and cobalt hydroxide manufacturer,Tanki New Materials Co.,Ltd dominates the market.Our professional work team provides perfect solutions to help improve the efficiency of various industries,create value,and easily cope with various challenges.If you are looking for cobalt hydroxide, please send an email to:  sales@ozbo.com  

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