This week, spot cobalt sulphate prices continued to rise. Supply side, most smelters were pessimistic about DRC policies, bullish on future cobalt prices, temporarily suspended offers and raised intended selling prices. Currently, most intermediate product smelters intended to sell above 60,000 yuan/mt, while MHP and recycling enterprises had slightly lower intended prices but overall maintained reluctance to budge on prices. Demand side, as cobalt sulphate market prices rose too rapidly and DRC policies remained uncertain, downstream buyers were relatively cautious, mainly consuming their own inventory and postponing purchases, resulting in overall sluggish market transactions. It is expected that market transactions will likely improve after policies are implemented this Sunday or next Monday.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lu Yanlin 021-20707875
Xiao Wenhao 021-51666872
Zhou Zhicheng 021-51666711
