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Spot price of refined cobalt falls [SMM Weekly Review of Refined Cobalt Market]
May 22, 2025, at 5:32 pm
[SMM Weekly Review of Refined Cobalt Market: Refined Cobalt Spot Price Declines] This week, the spot price of refined cobalt declined significantly. Supply side, the market is still digesting the pace of social inventory reduction. The economic efficiency of refined cobalt production continues to decrease, and production cuts at smelters are likely to persist. In terms of quotation, traders' quotes continue to decline in line with the futures market. Recently, some traders have been influenced by funding costs and have chosen to exit the market and sell their cargoes. Demand side, amidst the price decline, the purchase situation of downstream producers has slightly improved, with inquiries and buying interest picking up. It is expected that the spot price of refined cobalt will continue to fluctuate next week.
This week, the spot price of refined cobalt fell significantly. Supply side, the market is still digesting the pace of social inventory reduction. The economic viability of refined cobalt production continues to decline, and production cuts at smelters are likely to persist. In terms of quotation levels, traders' quotes continue to decline in line with the futures market. Recently, some traders have been influenced by funding costs and have chosen to exit the market and sell their inventory. Demand side, amid falling prices, the purchase situation of downstream producers has slightly improved, with inquiries and buying interest picking up. It is expected that next week, the spot price of refined cobalt may continue to fluctuate.
