SMM Cobalt Morning Meeting Summary: This week, the spot price of refined cobalt has slightly declined. Supply side, the quotes from mainstream traders have shown a slight downward trend. Due to the relatively low economic efficiency of refined cobalt production, the operating rate of smelters remains low, leading to a slight decrease in the supply of refined cobalt. Currently, the market is still digesting social inventory. Demand side, downstream producers continue to maintain a just-in-time procurement pace, and there has been no significant stockpiling. Overall, buying interest in the market remains weak. It is expected that the spot price of refined cobalt will continue to fluctuate this week.

This week, the price of cobalt powder dropped slightly, but the price adjustment had an insignificant boost on orders. The demand from the downstream alloy industry remained stable. However, due to the still high price of tungsten carbide and its high cost proportion, alloy enterprises are more focused on the price trend of tungsten, with relatively low attention to cobalt powder. Under this market structure, the price of cobalt powder fluctuates slightly according to the price of raw materials, lacking obvious drivers for significant change in the short term, and market sentiment remains cautious. It is expected that in the short term, the cobalt powder market may continue to be in the doldrums, with prices unlikely to show significant fluctuations. Continuous attention should be paid to the price changes of upstream raw materials and the marginal changes in downstream demand.

This week, the cobalt powder market continued to operate steadily, with limited overall fluctuations in enterprise quotations. The impact of price adjustments on orders was not significant. Downstream demand in the alloy industry remained stable, but due to the rising price of tungsten carbide and its high cost proportion, alloy enterprises were more focused on the price trend of tungsten, with relatively low attention to cobalt powder. Under this market pattern, cobalt powder prices maintained a stable state, lacking obvious drivers for significant changes in the short term, and market sentiment leaned towards wait-and-see.

This week, the cobalt powder market continued to operate steadily, with limited overall fluctuations in enterprise quotations. The impact of price adjustments on orders was not significant. Downstream demand in the alloy industry remained stable, but due to the rising price of tungsten carbide and its high cost proportion, alloy enterprises were more focused on the price trend of tungsten, with relatively low attention to cobalt powder. Under this market situation, cobalt powder prices maintained a stable state, lacking obvious drivers for short-term price changes, and market sentiment leaned towards wait-and-see.

This week, the cobalt powder market continued to maintain a stable development trend, with quotes from various enterprises remaining largely stable and showing no significant changes. The impact of price adjustments on stimulating new orders was also not pronounced. Demand from the downstream alloy industry remained steady. However, due to the rising price of tungsten carbide and its relatively high cost proportion, alloy manufacturers have shifted their focus more towards the price dynamics of tungsten, resulting in relatively lower attention to cobalt powder. Consequently, cobalt powder prices currently show a trend of stabilisation.

SMM Cobalt and Lithium Morning Meeting Summary: Refined cobalt spot prices remained stable this week. Supply side, smelters maintained neutral sentiment in continuous shipments, with overseas shipments experiencing a pullback. Demand side, market inquiries and buying remained relatively weak, and speculative sentiment slightly cooled.