Cobalt Suppliers Boosted by Pre-Holiday Demand, Will Strong Pricing Continue?

SMM Analysis: Pre-holiday demand for replenishing stocks boosts the mentality of cobalt suppliers, can the strong pricing sentiment continue?

This week, the price of cobalt has stabilized. From the supply side, the operating rate of cobalt factories has rebounded and production has increased due to the impact of downstream pre-holiday stocking. From the demand side, due to the pre-positioning of downstream demand, there is still a certain level of purchasing demand for cobalt, leading to some cobalt companies receiving new orders this week. Considering the overall market situation, the strong pricing sentiment for cobalt is being maintained this week due to some purchasing intentions, however, downstream acceptance of high prices is limited, resulting in a relatively stagnant spot price.