In May, China's production of tricobalt tetraoxide was 7,335 mt, down 5% MoM and up 4% YoY.

SMM data showed that China's copper cathode output in May was 1.0086 million mt, up 23,500 mt or 2.39% MoM, and up 5.19% YoY, exceeding the expected 977,100 mt by 31,500 mt.

This is a summary of China metals output in April and forecast for May.

In March, SMM data showed that China's copper cathode output was 999,500 mt, an increase of 49,200 mt or 5.18% from the previous month, a year-on-year increase of 5.06%, and an increase of 29,300 mt from the expected 970,200 mt. The total output from January to March was 2.9196 million mt, an increase of 207,100 mt or 7.64% year-on-year.

Refined cobalt prices rose slightly and then decreased in the week ending March 21. Production remains steady, but low smelter inventories lead to a tight supply situation. Demand in the usual high-demand season of March and April is delayed, with few market transactions, mainly driven by deliveries to the National Food and Strategic Reserves Administration. Market dynamics were initially unsettled due to a production issue but stabilized after a quick resolution, normalizing spot prices.

SMM data showed that in January, China's copper cathode output was 969,800 mt, a month-on-month decrease of 29,600 mt or 2.96%, but a year-on-year increase of 13.65% or 116,500 mt; the output is 16,200 mt higher than the expected 953,600 mt.