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[SMM Analysis] The Economics of Refined Cobalt Production Declines, with Refined Cobalt Production Down MoM in April
Apr 30, 2025, at 1:46 pm
[SMM Analysis: Refined Cobalt Production Economics Decline, Smelter Operating Rates Fall in April] In April, China's refined cobalt production decreased by 35% MoM. The main reasons for the decline in April production were: affected by policies in the DRC, the prices of cobalt intermediate products rose, leading to a continuous weakening in the economics of refined cobalt production. Meanwhile, coupled with tight raw material supplies at smelters, operating rates continued to decline. As a result, overall refined cobalt production in April showed a MoM decline. It is expected that the reduction in refined cobalt production may continue in May.
In April, China's refined cobalt production decreased by 35% MoM. The main reasons for the decline in April's production were as follows: Affected by policies in the Democratic Republic of the Congo (DRC), the prices of cobalt intermediate products rose, leading to a continuous weakening in the economic viability of refined cobalt production. Meanwhile, coupled with tight raw material supplies at smelters, the operating rate continued to decline. Therefore, overall refined cobalt production in April showed a MoM decline. It is expected that the decline in refined cobalt production may continue in May.
