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

This week, cobalt intermediate product prices slightly declined. Supply side, spot cargoes are currently sufficient overall. Demand side, downstream maintains just-in-time procurement, with limited market inquiries and transactions. Overall, the market remains in an oversupply situation, and spot prices are under downward pressure. Looking ahead, as spot transaction prices approach long-term contract prices, the downside room for cobalt intermediate product prices is expected to be limited.

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