[SMM Analysis] Ongoing Standoff in the Cobalt Chloride Market, with Sluggish End-Use Demand Fueling Strong Wait-and-See Sentiment

This week, the cobalt chloride market atmosphere saw no significant improvement, and the stalemate continued. Top-tier enterprises remained firm in their willingness to hold prices firm, with mainstream quotations continuing to stay above 116,000 yuan/mt and the highest quotations still at 120,000 yuan/mt. However, downstream procurement sentiment remained cautious, and market inquiries showed no recovery. Overall downstream demand was relatively pessimistic, leading Co3O4 enterprises to become more cautious in raw material procurement. Actual transactions were still mainly sporadic restocking, with the transaction center stable at around 115,000 yuan/mt. Overall, the market still lacked a direct driver to break the deadlock in the short term, and prices were expected to remain stable.

SMM New Energy Research Team

Wang Cong 021-51,666,838

Ma Rui 021-51,595,780

Feng Disheng 021-51,666,714

Lv Yanlin 021-20,707,875

Zhou Zhicheng 021-51,666,711