SMM1 22: the market after the cobalt price bullish sentiment is still strong, a domestic precursor factory before the festival large quantities of cobalt sulfate, cobalt chloride. Upstream manufacturers basically closed, the market officially entered the Spring Festival holiday state. SMM expects new procurement demand to emerge in early February after the festival, with a slight increase in the prices of cobalt sulfate, cobalt chloride and cobalt tetroxide.
[price changes of electrolytic cobalt, cobalt sulfate, cobalt chloride and cobalt tetroxide from March 2018 to January 2020]
Source: SMM
As of today, according to the SMM survey, the smelter stopped production for an average of 2-5 days during the Spring Festival, the large plant basically did not stop production, a small amount of production reduction; the shutdown was mainly concentrated in small factories. SMM expects domestic cobalt salt and cobalt oxide production to be 7-14 per cent lower in January 2020 than in December 2019. Among them, the output of cobalt sulfate in January is expected to be 3363 metal tons, down 10.20% from the previous month, and 14.10% from the same period last year; the output of cobalt chloride in January is expected to be 3273 metal tons, a decrease of 7.30%, and an increase of 40.91% over the same period last year; and the output of cobalt oxide in January is expected to be 4310 tons, a decrease of 13.77% over the same month last year and an increase of 2.62
SMM Battery Materials Research team
Hu Yan 021-51666809
Qin Jingjing 021-51666828
Mei Wangqin 021-51666759
Huo Yuan 021-51666898
Wuyang 021-51666818
