[SMM Analysis] Cobalt Intermediate Product Prices Remained Weak During the Week

This week, cobalt intermediate product prices remained weak. Supply side, port inventories were ample, and spot cobalt intermediate products were in abundant circulation. Demand side, post-holiday downstream cobalt smelters resumed operations slowly, leading to limited demand for cobalt intermediate products. Overall, as the oversupply pattern persisted during the week, spot prices continued to decline slightly. Looking ahead, the overall market supply-demand pattern is unlikely to change, and spot prices are expected to fluctuate downward.

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