This week, refined cobalt prices slightly declined. Supply side, current market inventory remains high, and mainstream smelters maintain a high operating rate, ensuring sufficient overall supply. Demand side, year-end stockpiling has basically concluded, and market inquiries were relatively quiet during the week. Considering the overall market situation, as the market holds a pessimistic view on cobalt prices, large-scale stockpiling in the spot market has not yet occurred, with the market mainly relying on just-in-time procurement. Consequently, spot prices faced downward pressure under the oversupply condition. It is expected that next week, as logistics and transportation are expected to halt before the Chinese New Year, spot market activity may further decline, and spot prices are expected to remain stable temporarily.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Ying Xu 021-51666707
Yanlin Lü 021-20707875
Yujun Liu 021-20707895
Xiaodan Yu 021-20707870
Zhicheng Zhou 021-51666711
