The cobalt sulphate market was active this week, with the price center gradually moving upward. On the supply side, raw material costs provided rigid support, and smelters held prices firm: offers for MHP and recycled material routes were raised to 90,000–92,000 yuan/mt, while intermediate product offers remained at 95,000 yuan/mt. On the demand side, some downstream enterprises actively stockpiled, and the volume of low-priced goods available in the market declined rapidly, pushing prices gradually higher. Some old stock priced at 85,000–86,000 yuan/mt last week had risen to around 88,000–90,000 yuan/mt. Overall, after continued drawdowns in social inventory, some buyers turned to inquire about high-priced new material from smelters, and a small amount of MHP and recycled cobalt sulphate transactions were concluded. Cobalt sulphate prices still have upward momentum in the short term, and it is expected that low-end prices will stabilize above 90,000 yuan/mt in the near term.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lü 021-20707875
Wenhao Xiao 021-51666872
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Jie Wang 021-51595902
Yang Xu 021-51666760
Lianting Yang 021-51595835
Zhaoyu Wang 021-51666827
