Spot refined cobalt prices continued to move sideways this week. On the supply side, raw material shortages persisted, and smelters continued to refrain from offering prices. After the new fiscal year, traders faced reduced pressure to sell, and under the influence of bullish sentiment, the discount in their quotations narrowed. On the demand side, alloy and magnetic material plants, as end-user prices had not risen in sync, continued to face losses, leading to a temporary halt in procurement and a strong wait-and-see sentiment. Cobalt salt prices rose this week, restoring profits from reverse integration and providing a floor support for refined cobalt prices. Refined cobalt is expected to maintain sideways movement in the short term, pending further increases in cobalt salt prices to lift the price center.
SMM New Energy Research Team
Wang Cong 021-5166-6838
Ma Rui 021-5159-5780
Feng Disheng 021-5166-6714
Lü Yanlin 021-2070-7875
Xiao Wenhao 021-5166-6872
Wang Zhaoyu 021-5166-6827
Zhang Haohan 021-5166-6752
Wang Zihan 021-5166-6914
Wang Jie 021-5159-5902
Xu Yang 021-5166-6760
Yang Lianting 021-5159-5835
