Market trading sentiment was lukewarm, with prices holding steady

This week, the mainstream quotations for cobalt chloride remained at 64,000-65,000 yuan/mt, with the actual transaction center hovering around 64,000 yuan/mt. As of now, there has been no clear information released regarding DRC's relevant policies in September, leading to divergent views among upstream and downstream enterprises in the industry chain. The market generally expects the policy direction to lean towards relaxing quotas, thus limiting the acceptance of rising cobalt chloride prices. Coupled with the July customs data released on the 20th, which showed that imports of cobalt intermediate products exceeded market expectations, this further dampened the sentiment for price increases. Currently, most downstream customers are adopting a cautious wait-and-see attitude, awaiting clearer policy directions, resulting in a stalemate in overall prices with limited fluctuation.

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