[Cobalt] Cobalt Sulphate Weekly Review

Published: Aug 13, 2026 17:35

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This week, the cobalt sulphate market extended its weak trend, with psychological price levels between buyers and sellers continuing to diverge and transactions struggling to gain volume. Supply side, offers were clearly divergent: primary smelters had not yet fully digested earlier high-priced raw materials, and their offers remained around 80,000 yuan/mt, but with the MHP cobalt coefficient falling to around 80%, spot costs had already pulled back to 76,000-78,000 yuan/mt, and cost support had actually softened somewhat; recycling enterprises showed a stronger willingness to sell, with mainstream quotations at around 95% of the SMM low-end price, while some enterprises facing financial constraints continued to push down prices in exchange for liquidity, pushing low-priced resources in the market down to 70,000-72,000 yuan/mt, with a few isolated extreme deals heard at 68,000-70,000 yuan/mt, though still mainly sporadic spot orders. Demand side, conditions were weak, with downstream enterprises seeing only a slow recovery in orders, procurement limited to immediate needs, and some inquiry indications already pushed down to 68,000 yuan/mt, but the price spread between buyers and sellers remained wide, so actual concluded business was limited. In the short term, the cobalt sulphate market has yet to show clear signs of stopping the fall; price stabilisation still depends on a concentrated release of downstream restocking demand.

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