[SMM Analysis] Cobalt Intermediate Product Prices Slightly Declined During the Week

This week, cobalt intermediate product prices slightly declined. Supply side, port inventories are currently sufficient, and spot supply remains unaffected. Demand side, with the Chinese New Year holiday approaching, purchasing willingness in the spot market is limited, and actual transactions are scarce. Overall, the current supply-demand pattern in the market remains unchanged. However, as the short Chinese New Year holiday is expected to arrive soon, logistics and transportation are gradually halting, so spot prices may fluctuate only slightly.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711