Spot cobalt sulphate prices held steady this week. Supply side, smelters believed the cobalt market would remain tight in the future, were bullish on the outlook, and refused to budge on prices. Demand side, downstream producers actively stockpiled after the National Day holiday, with some enterprises having completed their stockpiling for the year. At this period, purchasing sentiment was weak, making it difficult to accept the high offers from smelters. Overall, upstream and downstream enterprises still had differences over prices, and the market remained in a deadlock in the short term. Cobalt sulphate prices are likely to remain stable, waiting for downstream players to gradually digest and accept the prices. The next round of cobalt salt price increases is expected to require downstream players to begin a new round of purchasing.
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
