Cobalt Sulphate Spot Prices Surge Continuously for 11 Days

[SMM Daily Review: Cobalt Sulphate Spot Prices Continue to Rise on March 11]

The SMM cobalt sulphate index price was 47,527 yuan/mt, up 5,291 yuan/mt from the previous trading day. Cobalt sulphate prices ranged from 45,000 to 50,000 yuan/mt, with an average price of 47,500 yuan/mt, up 5,500 yuan/mt from the previous trading day. Following the DRC's announcement of a cobalt export suspension, market sentiment continues to ferment, and prices for all cobalt-related products are still rising. Among them, cobalt sulphate prices have been climbing for 11 consecutive days, with a cumulative increase of 72%. Smelters are showing a clear reluctance to sell, spot quotes are continuously rising, and most companies are adopting a strategy of limited high-price transactions. While many downstream companies remain cautious, some have started to make high-price spot order transactions, driven by the ongoing price surge. Buyers and sellers still have some divergence in price expectations, but as transaction prices in the market keep hitting new highs, both sides are raising their expected price levels.