This week, cobalt intermediate product spot prices continued to hold up well. Supply side, spot cargoes available from mainstream miners and traders remained tight, coupled with difficulties in DRC cobalt raw materials arriving at ports for replenishment before the Chinese New Year, most enterprises remained optimistic about the market outlook and continued to suspend offers. Demand side, overall market changes were limited, downstream smelters' inquiry prices gradually moved higher, but constrained by upstream suppliers' firm stance to refuse to budge on prices, actual transactions remained sluggish, sustaining a "price without market" pattern. Considering that domestic cobalt raw material supply is expected to remain structurally tight in the long term, cobalt intermediate product prices are anticipated to retain further upward momentum.
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
