[SMM Weekly Review of Refined Cobalt Market: Refined Cobalt Prices Decline Slightly] This week, the spot price of refined cobalt declined slightly. Supply side, the market is still digesting the pace of social inventory reduction. The economic efficiency of refined cobalt production remains relatively low, leading to a slight decrease in the capacity utilisation rate of smelters and a small decline in their quoted prices. Demand side, there has been no significant change in the pace of purchases by downstream producers, who continue to make just-in-time procurement. Inquiries and buying interest remain relatively mediocre. It is expected that the spot price of refined cobalt will continue to fluctuate next week.
This week, the spot price of refined cobalt declined slightly. Supply side, the market is still digesting the pace of social inventory reduction. The economic efficiency of refined cobalt production remains relatively low, leading to a slight decrease in the capacity utilisation rate of smelters and a minor decline in their quoted prices. Demand side, downstream producers have not significantly altered their purchasing pace, maintaining just-in-time procurement. Inquiries and buying interest remain relatively mediocre. It is anticipated that next week, the spot price of refined cobalt will continue to fluctuate.
