This week, domestic cobalt chloride market activity continued to improve. Supply side, the tight supply of raw materials further intensified, strongly supporting producers to maintain high quotations, with mainstream offers stabilizing above 110,000 yuan/mt; recycling side quotations followed suit with increases, concentrated in the range of 103,000-108,000 yuan/mt. Demand side, performance remained steadily positive, with demand from Co3O4 and production schedules still maintained at high levels, recent purchases of cobalt chloride were at mainstream prices of 105,000 yuan/mt. Considering factors from both supply and demand sides, cobalt chloride prices have some upward momentum in the short term, but the overall upside potential is relatively limited.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lü 021-20707875
Zhicheng Zhou 021-51666711
