SMM

【SMM Analysis：Price Spread Between Cobalt Salts and Refined Cobalt Continues to Narrow, Refined Cobalt Remains Relatively Profitable】 In July 2024, the price spread between cobalt salts and refined cobalt continued to narrow. By category, in terms of metal content, the average price spread between cobalt sulphate and refined cobalt in July was about 63,000 yuan/mt, down 16% MoM; the average price spread between Co3O4 and refined cobalt was about 36,000 yuan/mt, down 27% MoM; the price spread between cobalt chloride and refined cobalt was about 56,000 yuan/mt, down 19% MoM. Compared to other cobalt salts, refined cobalt remains a relatively profitable segment.