This week, domestic spot prices for refined cobalt fluctuated upward. The market is awaiting the implementation of policies in the DRC on September 21, with both sellers and buyers remaining relatively cautious. Supply side, major smelters maintained long-term contract supplies, and some enterprises raised ex-factory prices, with traders quoting in line with futures. Demand side, downstream enterprises continued to purchase mainly for rigid demand, and actual market transactions were sluggish. Future market prices still depend on the implementation of DRC policies, and attention should be paid to changes in the price spread between refined cobalt and cobalt salts, especially regarding when refined cobalt might be reverse-processed into cobalt salts.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lü Yanlin 021-20707875
Xiao Wenhao 021-51666872
Zhou Zhicheng 021-51666711
