Latest Update in the China Cobalt Market

According to SMM survey, the weakening terminal demand has reduced the output of material enterprises to varying degrees. Based on comprehensive research and forecasts, the output of ternary cathode materials in November is expected to fall 4% month-on-month and grow 58% year-on-year.

We are pleased to announce that Shanghai Metals Market (SMM) has officially reached a cooperation with and joined the International Lithium Association (ILiA) as an associate member.

SMM believes that this rumour may not be groundless evidenced by the slowing demand growth in the Chinese automobile market amid multiple influencing factors such as the current economic downturn, high battery material prices, as well as the expected cancellation of new energy vehicle (NEV) subsidies.

According to SMM research, in October 2022, a total of 27,802 mt of lithium battery scraps were recycled in China (including scrap in the form of battery, pole piece and black mass), and the recycling volume fell slightly by 1% compared with September.

SHANGHAI, Nov 15 (SMM) - The prices of cobalt products rose in an all-round way in October 2022, with cobalt sulphate and cobalt chloride prices up 8% and 7% month-on-month respectively.

SHANGHAI, Nov 15 (SMM) - Lithium carbonate supply deficit recorded 7,995 mt in October amid rising supply and demand in the month. Chinese lithium carbonate output stood at 34,168 mt in October, up 4% MoM.

In detail, the demand for ternary cathode materials is likely to post a MoM decline in the following two months based on the disclosed production scheduling of power battery and material factories. The cathode active material factories will focusing on the digestion of in-plant stocks. The market is currently bearish on lithium carbonate prices, and the supply and demand balance is likely to be reversed soon.

China’s copper cathode output stood at 901,200 mt in October, down 0.9% month-on-month (MoM) and up 14.2% year-on-year (YoY). The output totalled 8.51 million mt from January to October, an increase of 2.8% or 232,800 mt on the year.