This week, cobalt chloride prices have declined. Supply side, quotes from major smelters remained firm, indicating a certain reluctance to sell. However, some smelters showed a stronger willingness to sell, leading to a small number of low-priced transactions in the market, which in turn pulled down the overall spot price. Demand side, downstream enterprises mainly engaged in just-in-time procurement and generally held a certain amount of cobalt salt inventory. They made fewer inquiries, and the market was characterized by a strong wait-and-see atmosphere. Despite this, due to the ongoing shortage of raw materials, the market's bullish sentiment remained high and consistent. It is expected that next week, the spot price of cobalt chloride will continue to fluctuate at a high level and will be difficult to decline.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lv 021-20707875
Yueming Li 021-51666809
Zhicheng Zhou 021-51666711
