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  Cobalt chloride spot price remains stable for the time being [SMM Weekly Review of Cobalt Chloride Market]

  [SMM Weekly Review of Cobalt Chloride Market: Cobalt Chloride Spot Prices Remain Stable for Now] This week, cobalt chloride prices remained stable for now. In terms of supply, due to the unsolved issue of raw material shortages, most manufacturers maintained relatively high quotes, and the possibility of selling at low prices was relatively small. On the buyer side, the market appeared slightly sluggish after the holiday, with fewer inquiries. Purchases were mainly driven by rigid demand, and spot prices fluctuated at highs. It is expected that next week, if the market continues to be sluggish, the transaction price of cobalt chloride may decline. However, due to manufacturers' reluctance to sell, the price decline is expected to be limited.

• [SMM Weekly Review] Prices fell by nearly 2,000 this week! Sellers and buyers continue to engage in a tug-of-war

• Spot price of Co3O4 declines [SMM Weekly Review of Co3O4 Market]

  [SMM Weekly Review of Co3O4 Market: Co3O4 Spot Price Declines] This week, the spot price of Co3O4 experienced a slight decline. In terms of supply, the market was sluggish after the holiday, with most smelters maintaining their pre-holiday quotes, but transaction activity weakened. On the demand side, some enterprises had already completed their necessary procurement tasks, and their acceptance of high-priced Co3O4 decreased, leading to a decline in spot prices. It is expected that next week, as the inventory of LCO manufacturers gradually depletes and they may generate a certain level of restocking demand, a new round of procurement may be triggered. Therefore, the downward space for Co3O4 spot prices may be limited, and they are more likely to fluctuate at highs.

• Bears' capital entering the market drove SHFE aluminum prices down. Short-term destocking may support prices. [SMM Weekly Aluminum Price Review]

  [SMM Weekly Aluminum Price Review: Bearish Capital Inflow Drives SHFE Aluminum Downward, Short-Term Destocking May Support Prices] Overall, on the macro side, it still takes time for the transmission of domestic favorable policies, and there is no conclusion to the tariff war yet, so the bearish impact persists. On the fundamental side, the destocking of domestic aluminum ingot inventory provides support for aluminum prices, but the expected weakening of demand and the weakening of aluminum production costs both provide support for bears. With bears entering the market, the futures market declines. Amidst the interplay of bullish and bearish factors, it is expected that domestic aluminum prices will fluctuate considerably in the short term. Next week, the most-traded SHFE aluminum contract is expected to trade around 19,300-19,800 yuan/mt, while LME aluminum is expected to trade around $2,370-$2,400/mt.

• 【SMM MHP Daily Review】May 8: MHP Prices in Indonesia Decline Slightly

  Recently, the market has been influenced by the rebound in futures prices and the MHP coefficient fluctuating at highs. As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) stands at 84%-85%, and the FOB price of Indonesian MHP is $12,730 per mt (Ni contained).