[Cobalt] Refined Cobalt Weekly Review

Published: Aug 13, 2026 17:33

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This week, refined cobalt prices continued to consolidate on a subdued note. Supply side, ex-works quotations at mainstream smelters were lowered to 335,000 yuan/mt; spot-futures price spreads for small and medium-sized smelters’ quotations remained in a range from a discount of 6,000 yuan/mt to a premium of 4,000 yuan/mt, while mainstream traders’ quotation spreads held from parity to a premium of 10,000 yuan/mt. Demand side, downstream enterprises were still in their summer break period, maintaining only small amounts of rigid-demand restocking, and trading sentiment was sluggish. No notable new drivers emerged in the market this week; supply-demand fundamentals changed little, and prices continued to consolidate at lows. Overall, the market is still in the consumption off-season, with limited demand support. Prices may continue to consolidate on a subdued note in the near term. Attention should be paid to changes in the pace of downstream restocking after the summer break ends.

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