[SMM Analysis] Refined Cobalt Prices Fluctuated Downward During the Week

This week, refined cobalt prices remained stable. Supply side, the current spot market inventory is relatively high, and the market has sufficient circulating supply. Demand side, there is rigid demand inquiry from downstream, but the market transaction volume is limited. Overall, due to the supply surplus in the market, both refined cobalt producers and traders hold a certain level of inventory, resulting in spot prices fluctuating downward. It is expected that in the future, as the oversupply situation in the market becomes more evident, spot prices may continue to decline.

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