Prices of Refined Cobalt Climbed 14% MoM in December

Published: Jan 12, 2022 15:10

Save

The monthly average price of refined cobalt stood at 473,000 yuan/mt in December, an increase of 14% MoM and 78% YoY. The prices are expected to climb further in January.

SHANGHAI, Jan 12 (SMM) - The monthly average price of refined cobalt stood at 473,000 yuan/mt in December, an increase of 14% MoM and 78% YoY. The prices are expected to climb further in January.

The domestic refined cobalt prices followed the overseas prices up at the beginning of December, narrowing the price difference between the two. This, coupled with growing magnetic material exports, encouraged refined cobalt plants to increase their production.

The price increase slowed down in the middle of the month due to quiet overseas market before the Christmas holiday, and downstream purchases were made on rigid demand.

The prices stabilised at the end of the month. The domestic refined cobalt plants reduced their production due to losses, while downstream demand was weak. The overseas prices were also stable amid the Christmas holiday.

cobalt price analysis

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 hours ago

Guozong Zhongsheng's 200 MW ESS Project Kicks Off in Jinchang with 780 Mln Yuan Investment

On March 8, the Guozong Zhongsheng 200 MW/800 MWh grid-side standalone ESS project officially broke ground at the Xipo PV Industrial Park in Jinchang City’s Jinchuan District. With a total investment of approximately 780 million yuan, the project will adopt the currently mature LFP electrochemical energy storage technology, and will mainly build 40 sets of 5 MW/20 MWh energy storage units, along with supporting auxiliary works such as one 330 kV step-up substation and eight 35 kV collector lines.

8 hours ago

First Grid-Forming ESS Project in Northern Hebei Goes Online

Recently, the first grid-forming ESS project in the northern Hebei power grid—the Beijing Hengyuan Zhangbei County 300 MW/600 MWh standalone ESS power station—was officially connected to the grid and began generating electricity. The grid-forming ESS capacity is 50 MW/100 MWh, using Sungrow’s grid-forming technology, adding an adjustable “dam” to conventional new energy plants to make the “green electricity river” more controllable and stable. This strongly enhances the reliability of power supply in the Beijing-Tianjin-Hebei region and sets a new milestone for high-quality transmission of new energy.

8 hours ago

Amidst Middle East Conflicts: What is the Path Forward for China's Energy Storage Exports?

Recent Middle East conflicts have disrupted the region's booming energy storage market, a major destination for Chinese exports. To assess the real impact on Chinese supply chains and project deliveries, we must analyze baseline demand amidst these geopolitical uncertainties.

8 hours ago