This week, refined cobalt prices continued to rise. Supply side, the operating rate of major refined cobalt smelters remained stable, ensuring sufficient market supply. Demand side, downstream inquiries were active, and restocking willingness increased. Market-wise, due to abundant market news, there was strong sentiment for price hikes during the week. Meanwhile, some downstream buyers, concerned about excessive price increases in the future, showed stronger purchasing intentions. Looking ahead, as the current price surge has been too rapid, the market may need some time to digest this round of increases. Therefore, refined cobalt prices are expected to remain stable next week, with the market mainly in a wait-and-see mode.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lü 021-20707875
Yujun Liu 021-20707895
Xiaodan Yu 021-20707870
Zhicheng Zhou 021-51666711
