This week, refined cobalt prices slightly declined. Supply side, mainstream refined cobalt smelters maintained high operating rates, and overall spot inventory in the market remained sufficient. Demand side, downstream demand for alloys and magnetic materials was relatively limited. Market-wise, year-end stockpiling across various sectors had basically concluded, and market trading sentiment during the week was relatively subdued. Overall, the short-term supply-demand relationship in the market is expected to remain unchanged, with a severe surplus anticipated in the future. Therefore, refined cobalt spot prices are unlikely to rise in the short term.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Ying Xu 021-51666707
Yanlin Lü 021-20707875
Yujun Liu 021-20707895
Xiaodan Yu 021-20707870
Zhicheng Zhou 021-51666711
