Cobalt Sulphate Spot Price Stabilizes at High Levels Amid Buyer-Seller Tug-of-War

[SMM Daily Review: March 14 Cobalt Sulphate Spot Price Stabilized at High Levels]

The SMM cobalt sulphate index price was 49,682 yuan/mt, up 346 yuan/mt from the previous trading day. Cobalt sulphate was quoted at 48,500-51,500 yuan/mt, with an average price of 50,000 yuan/mt, up 500 yuan/mt from the previous trading day. The cobalt sulphate market continued the tug-of-war between sellers and buyers, with the imbalance in upstream and downstream price transmission becoming more pronounced. Upstream salt factories, under raw material inventory pressure, maintained their strategy to stand firm on quotes, with actual transactions mainly consisting of small-volume high-priced spot orders. Downstream enterprises showed limited acceptance of the current cobalt sulphate prices, with some buyers adopting a "wait-and-see" approach and delaying purchases. Spot transaction price centers for rigid demand slightly moved upward.