Cobalt Prices Continue Decline Amid Weak Demand and Production Decrease

SMM Weekly Review: Cobalt Prices Continued to Decline This Week

Cobalt prices continued to decline this week. From the supply side, there has been a decrease in production at smelters due to a decrease in orders. On the demand side, inquiries have remained low and the market has been quiet. Overall, due to the continuous decline in raw material cobalt salt prices, the cost support for cobalt weakened, coupled with weak demand, some companies are considering selling at lower prices due to issues with fund turnover, leading to the maintenance of lower prices. It is expected that the weak demand will continue next week, and there is a possibility of further decline in spot prices.