[SMM Weekly Review] This week, cobalt intermediate product prices rose slightly. On the supply side, most mines and traders held a bullish sentiment and suspended quoting prices, while a few quoting enterprises maintained their refusal to budge on prices. On the demand side, smelters faced challenges such as losses in production costs and weak downstream demand. Given the uncertain future situation, they continued to delay procurement and mainly relied on consuming their own inventory. Some smelters with relatively low inventory levels attempted to inquire about prices in the market, but actual transactions remained difficult due to significant price differences between buyers and sellers. Overall, influenced by the DRC's extension policy, China's cobalt intermediate products will still face a shortage of raw materials in the future, and prices have upward momentum. However, during this process, attention needs to be paid to the suppression of downstream demand caused by the rise in raw material prices.
This week, cobalt intermediate product prices rose slightly. On the supply side, most mines and traders held a bullish sentiment and suspended quoting prices, while a small number of quoting enterprises maintained their refusal to budge on prices. On the demand side, smelters faced challenges such as losses in production costs and weak downstream demand. Given the uncertain future situation, they still postponed procurement and mainly consumed their own inventory. Some smelters with relatively low inventory levels attempted to inquire about prices in the market, but due to significant price differences between buyers and sellers, actual transactions remained difficult. Overall, affected by the DRC's extension policy, China's cobalt intermediate products will still face a shortage of raw materials in the future, and there is upward momentum in prices. However, during this process, attention needs to be paid to the inhibition of downstream demand caused by the rise in raw material prices.
