[SMM Analysis] Refined Cobalt Prices Slightly Declined After the Holiday

After the holiday, refined cobalt prices slightly declined. Supply side, mainstream refined cobalt smelters maintained relatively high operating rates during the Chinese New Year, ensuring sufficient market supply. Demand side, in the first week after the holiday, overall market inquiry and purchase sentiment remained weak, and the market continued to face an oversupply situation. It is expected that in the short term, as the supply-demand pattern is difficult to change, spot prices may still have some downward potential.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711