SMM Analysis: Cobalt Salt Prices Edge Up Amid Export Suspension, But Future Growth Momentum Remains Uncertain

[SMM Analysis: Cobalt Salt Prices Rose Slightly This Week]

This week, cobalt salt prices rose slightly. On February 22, the DRC announced a four-month suspension of cobalt exports to address the issue of supply surplus. This news had a strong impact on market sentiment, with upstream smelters generally halting quotations, and some maintaining a sentiment to stand firm on quotes. This provided short-term support to the cobalt salt market, driving prices upward.

It is expected that next week, as market sentiment continues to ferment, the sentiment to stand firm on quotes will persist, and inquiry activities may increase, potentially leading to a slight rise in spot prices. However, due to the presence of certain inventory in the market and less-than-ideal actual demand, the momentum for sustained price increases is insufficient, and the extent of the rise will be limited.

Additionally, the supply of cobalt raw materials remains relatively ample, and the oversupply situation is unlikely to change in the short term. Therefore, the possibility of sustained price increases in the future is low, and prices may pull back.