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Influences on cobalt industry production by the coronavirus

2020-02-08 03:56:53

Antaike, Feb.7 (Beijing)- According to information of Cobalt Branch-CNIA, most insiders believe that the outbreak of the new coronavirus pneumonia will have a great impact on the market in the short term: the cobalt market is currently in a weak supply and demand, and the production of cobalt refiners is insufficient. Meanwhile, some downstream precursors, lithium cathode materials and vehicle manufacturers are in the shutdown period. In addition to a number of carmakers that have built factories in Hubei province, other enterprises including Toyota, Honda, Hino, Tesla, Ford and Dongfeng Automobile have also confirmed the delay in the resumption of work, collectively entering a period of suspension. Tesla said on Jan. 31 that production of the Model 3 at its Shanghai plant is expected to be delayed by one to a week and a half. Tesla's Shanghai gigafactory has only been in production for a few months, with capacity climbing and demand continuing to rise, but production of the Model 3 at the factory has been suspended due to the new coronavirus.



Meanwhile, affected by the coronavirus, domestic transportation is not smooth in many places. Road closure leads to the production of finished products cannot go out, raw materials cannot come in, and employees on leave cannot return to work, which has a certain impact on both supply and demand of cobalt industry, and the specific number of production influenced needs to be further tracked.




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