Cobalt Chloride: Holiday Atmosphere Prevails, Spot Trades Near Freezing Point

The cobalt chloride market continued its sluggish pattern this week, with the atmosphere becoming even more sluggish compared to last week. Mainstream quotations from smelters and recycling enterprises remained above 115,000 yuan per mt. However, as the Chinese New Year holiday approached, most enterprises began entering holiday mode from mid-week, leading to a noticeable decline in market participation. Although some enterprises facing earlier capital repayment pressures showed willingness to ship below mainstream price levels, actual transactions were scarce. Terminal battery cell manufacturers saw some rush-to-meet-deadline demand spurred by changes in export policies, yet most enterprises had relatively ample stockpiles. Coupled with the fact that cobalt chloride prices remain high, spot restocking willingness continued to be sluggish. With logistics gradually halting, the market is expected to maintain a stable but quiet situation with nominal prices but few transactions before the holiday.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Zhou Zhicheng 021-51666711