【SMM Analysis：Recovery in Ternary Cathode Precursor Demand Compared to October; Increase in Cobalt Sulphate Production in November】

【SMM Analysis：Recovery in Ternary Cathode Precursor Demand Compared to October; Increase in Cobalt Sulphate Production in November】In November, China's cobalt sulphate production increased by 5% MoM but decreased by 12% YoY. The main reason for the increase in November production was the recovery in downstream precursor demand and the increase in integrated production. Although the production of cobalt sulphate enterprises engaged only in smelting and processing declined, the overall production still recovered compared to October due to the offsetting effect. It is expected that in December, the overall market situation will remain stable, with relatively small fluctuations in cobalt sulphate production.