[SMM Analysis] Some Smelters Recovered Production After Destocking; Cobalt Sulphate Production Increased MoM in December

[SMM Analysis: Production of Some Smelters Recovered After Destocking, December Cobalt Sulphate Production Increased MoM] In December 2024, China's cobalt sulphate production increased 9% MoM and 6% YoY. The main reason for the production increase in December was that some enterprises, which previously had inventory at high levels, saw production recover after completing destocking. Although some recycling enterprises suspended production, the overall increase outweighed the decrease, leading to a MoM increase in cobalt sulphate production in December. It is expected that in January 2025, due to the domestic Chinese New Year holiday, the overall cobalt sulphate production will decrease.