[SMM Analysis] Some Smelters Recovered Production After Destocking; Cobalt Sulphate Production Increased MoM in December

Dec 31, 2024, at 6:17 pm

[SMM Analysis: Production of Some Smelters Recovered After Destocking, December Cobalt Sulphate Production Increased MoM] In December 2024, China's cobalt sulphate production increased 9% MoM and 6% YoY. The main reason for the production increase in December was that some enterprises, which previously had inventory at high levels, saw production recover after completing destocking. Although some recycling enterprises suspended production, the overall increase outweighed the decrease, leading to a MoM increase in cobalt sulphate production in December. It is expected that in January 2025, due to the domestic Chinese New Year holiday, the overall cobalt sulphate production will decrease.

In December 2024, China's cobalt sulphate production increased 9% MoM and 6% YoY. The main reason for the production increase in December was that some enterprises, which previously had inventory at high levels, resumed production after completing destocking. Although some recycling enterprises in the market suspended production, the overall increase outweighed the decrease, resulting in a MoM increase in cobalt sulphate production in December. It is expected that in January 2025, due to the domestic Chinese New Year holiday, the overall cobalt sulphate production will decrease. SMM New Energy Research Team Cong Wang 021-51666838 Rui Ma 021-51595780 Ye Yuan 021-51595792 Disheng Feng 021-51666714 Ying Xu 021-51666707 Yanlin Lü 021-20707875 Yujun Liu 021-20707895 Xiaodan Yu 021-20707870 Zhicheng Zhou 021-51666711

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