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[SMM Weekly Review] Refined Cobalt Prices Continued to Decline This Week
Dec 26, 2024, at 6:16 pm
[SMM Weekly Review: Refined Cobalt Prices Continued to Decline This Week] Refined cobalt prices saw a slight decline this week.
Supply side, the operating rates of major refined cobalt smelters remained stable, and spot supply was sufficient overall. Demand side, the overseas Christmas holiday during the week led to sluggish overseas demand; domestically, there was some sporadic stockpiling earlier, but demand weakened as the year-end approached.
Overall, the market remained relatively quiet, with limited inquiries and transactions, putting downward pressure on spot prices. Looking ahead, stockpiling demand in the market is expected to have largely ended, and the short-term supply-demand pattern may remain stable, with spot prices staying weak.
This week, refined cobalt prices slightly declined. Supply side, the operating rate of mainstream refined cobalt smelters remained stable, and overall spot supply was sufficient. Demand side, overseas demand was sluggish due to the Christmas holiday, while domestic demand weakened near the year-end after some sporadic stockpiling earlier. Overall, the market remained relatively quiet, with limited inquiries and transactions, putting downward pressure on spot prices. Looking ahead, stockpiling demand in the market is expected to have largely ended, and the short-term supply-demand pattern may remain unchanged, with spot prices staying weak.
