SMM

Refined cobalt prices rose slightly and then decreased in the week ending March 21. Production remains steady, but low smelter inventories lead to a tight supply situation. Demand in the usual high-demand season of March and April is delayed, with few market transactions, mainly driven by deliveries to the National Food and Strategic Reserves Administration. Market dynamics were initially unsettled due to a production issue but stabilized after a quick resolution, normalizing spot prices.