This week, the spot price of cobalt sulphate rose slowly. On the supply side, smelters and traders maintained their stance on prices, with the upstream delivery sentiment factor at 1.95 (last Thursday's delivery sentiment factor was 2.02). Cobalt intermediate product smelters kept their quotes at 54,000~55,000 yuan/mt, while MHP and recycling companies raised their quotes, and some companies had September orders locked in advance. Traders increased the prices of old stocks to 50,000~51,000 yuan/mt. On the demand side, recent orders for ternary cathode precursors improved, and the willingness to inquire about prices strengthened, with the downstream purchasing sentiment factor at 1.96 (last Thursday's purchasing sentiment factor was 1.94). New transactions for cobalt sulphate were made around 51,000 yuan/mt by precursor manufacturers. It is expected that under the influence of continuously rising raw material costs, the price of cobalt sulphate will continue to maintain a strong trend in the short term, but the extent of the increase still needs to be observed based on actual downstream purchases.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lv Yanlin 021-20707875
Xiao Wenhan 021-51666872
Zhou Zhicheng 021-51666711
