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[SMM Analysis] Refined Cobalt Prices Slightly Declined After the Holiday
Feb 06, 2025, at 5:40 am
[SMM Analysis: Refined Cobalt Prices Slightly Declined After the Holiday] Refined cobalt prices slightly declined after the holiday. Supply side, major refined cobalt smelters maintained relatively high operating rates during the Chinese New Year, ensuring sufficient market supply. Demand side, overall market inquiry and purchase sentiment was weak in the first week after the holiday, with the market remaining in an oversupply situation. It is expected that in the short term, as the supply-demand pattern is unlikely to change, spot prices may still have some room for further decline.
After the holiday, refined cobalt prices slightly declined. Supply side, mainstream refined cobalt smelters maintained relatively high operating rates during the Chinese New Year, ensuring sufficient market supply. Demand side, in the first week after the holiday, overall market inquiry and purchase sentiment remained weak, and the market continued to face an oversupply situation. It is expected that in the short term, as the supply-demand pattern is difficult to change, spot prices may still have some downward potential.
