Cobalt Sulphate Spot Prices Stabilize at Elevated Levels Amid Export Ban and Strong Producer Sentiment

[SMM Daily Review: Spot Prices of Cobalt Sulphate Stabilized at High Levels on March 12]

The SMM cobalt sulphate index price was 48,196 yuan/mt, up 669 yuan/mt from the previous trading day. Cobalt sulphate was quoted at 46,500-50,000 yuan/mt, with an average price of 48,250 yuan/mt, up 750 yuan/mt from the previous trading day. Following the DRC's announcement of a suspension on cobalt exports, cobalt sulphate prices have cumulatively risen by 75%. Currently, sentiment among salt producers remains strong, with offers staying at high levels. Downstream enterprises are actively inquiring in the market, but transaction sentiment has pulled back. High-level transaction prices in the market have yet to break through, and the price negotiation between upstream and downstream continues, with the price spread expected to narrow.