Refined cobalt prices continued to rise this week. The policy in the DRC was officially implemented on Sunday, which was slightly weaker than market expectations last Friday, leading to a pull back in futures at the beginning of the week. However, according to this policy, China's cobalt market is expected to remain tight in the future. After digesting the expectation gap, the market returned to rationality, and prices continued to rise. However, due to the rapid increase in refined cobalt prices, downstream sectors found it difficult to pass on costs, resulting in limited actual market transactions. The window for refined cobalt to be re-melted into cobalt salt is about to open, which is expected to accelerate the inventory consumption rate of refined cobalt in the future.
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
