I've not checked in here for a while, but had a quick look at the Co/COB market this weekend. Gave me reason enough to double my holdings during the morning.
First I had a look at Chinese demand (as indicated by shipping data I have access to) - first graph is by month, second graph is rolling quarterly to see trend more clearly:
I was curious to see if the use of LFP batteries by some manufacturers having an impact on Chinese Co demand. As of April this year it appears not to - there is a continued upward trend at an CAGR of ~11%.
I also compared the price China pays for Co raw material vs COB sp. Indications are we have bottomed out with both, and it appears that sp generally lags movement in price. Given the uptick in published prices the last month, indications would be that a re-rate for COB is coming too.
Not investment advice, these are my interpretations of data and my interpretations may be wrong. DYOR.
