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[SMM Weekly Review] Spot Cobalt Intermediate Products Prices Maintained an Upward Trend This Week
Oct 23, 2025, at 6:50 pm
This week, spot prices for cobalt intermediate products maintained an upward trend. Supply side, customs data released on Monday showed that cobalt intermediate product imports rose slightly MoM in September, but as the increase remained relatively low compared to market demand, major miners and traders remained optimistic about the outlook and continued to suspend offers. Demand side, overall market changes were limited, with inquiries from downstream smelters gradually moving higher. However, constrained by suppliers' firm refusal to budge on prices, actual transactions remained sluggish, and the market continued to exhibit a "price without market" pattern. Given that domestic cobalt raw material supply is expected to remain structurally tight in the long term, cobalt intermediate product prices are projected to retain further upward momentum.
This week, spot prices for cobalt intermediate products maintained an upward trend. Supply side, customs data released on Monday showed that September imports of cobalt intermediate products rose slightly MoM. However, as the increase remained relatively low compared to market demand, major miners and traders remained optimistic about the market outlook and continued to suspend quotations. Demand side, overall market changes were limited. Inquiry prices from downstream smelters gradually moved higher, but constrained by suppliers' firm refusal to budge on prices, actual transactions remained sluggish, sustaining a pattern of "price without market." Given that domestic cobalt raw material supply is expected to remain structurally tight in the long term, cobalt intermediate product prices are projected to retain further upward momentum.
