This week, domestic spot prices of refined cobalt fluctuated upward, but overall market trading activity saw limited changes compared to last week. Supply side, major smelters maintained long-term contract supplies, while traders quoted prices following futures movements. Demand side, downstream enterprises showed low acceptance of the current high cobalt prices, with procurement primarily driven by rigid demand, leading to sluggish actual market transactions. The price increase of refined cobalt this week was mainly driven by the continuous rise in prices of cobalt intermediate products and cobalt salts. However, its relatively high inventory levels and weak demand continued to exert some suppression on the price uptrend. Going forward, close attention should be paid to the price spread between refined cobalt and cobalt salts, particularly monitoring when refined cobalt might be reverse-processed into cobalt salts.
This week, domestic spot refined cobalt prices fluctuated upward, but overall market trading activity showed limited change compared to last week. Supply side, mainstream smelters maintained long-term contract supply, while traders quoted prices following futures. Demand side, downstream enterprises had low acceptance of the current high cobalt prices, with procurement still focused on rigid demand, and actual market transactions were sluggish. The rise in refined cobalt prices this week was mainly driven by the continuous increase in prices of cobalt intermediate products and cobalt salts; however, its own high inventory levels and relatively weak demand still exerted some suppression on the price increase. Subsequent attention should be paid to the price spread between refined cobalt and cobalt salts, particularly monitoring when refined cobalt is reverse-processed into cobalt salts.
