Cobalt Chloride: Resumption of Work Without Market Recovery, Prices Remain Quiet

This week, the first working week after the Chinese New Year, the cobalt chloride market as a whole showed a stable transition state of "resumption of work but not resumption of market." Although most enterprises have ended their holidays and returned to the market, the market atmosphere has not yet recovered. Companies are still mainly in a wait-and-see mode, with smelters and recycling companies' mainstream quotations holding firm above 115,000 yuan per mt. Downstream Co3O4 and battery cell manufacturers still have pre-holiday stockpiling inventories to digest. Coupled with a general acceptance of current prices, they generally maintain a wait-and-see attitude, and restocking actions have not yet been launched on a large scale. It is expected that a new round of increases will begin in early March.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711