[SMM Analysis] Spot price of cobalt sulphate rises slightly

This week, the spot price of cobalt sulphate held up well. Supply side, cobalt salt producers continued to stand firm on quotes and hold back sales, leading to a slight increase in spot quotes for cobalt sulphate. Demand side, as the holiday approached, downstream producers generally adopted a wait-and-see attitude towards new cobalt salt products, with only old social inventories being gradually consumed. As a result, transactions of new cobalt sulphate products were scarce. It is expected that next week, some producers may start to replenish their inventories, which could lead to a pickup in spot transactions of cobalt sulphate and drive the spot price to hold up well.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Liu Yujun 021-20707895

Li Yueming 021-51666809

Zhou Zhicheng 021-51666711