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 for 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

6 hours ago

Samsung SDI Targets AI Data Center BBU Market With Cylindrical Batteries

Samsung SDI announced on August 4 that it will strengthen its push into the AI data center battery backup unit (BBU) market with cylindrical batteries that offer space efficiency, high output and safety. The company plans to expand the application of its cylindrical batteries from power tools and home appliances to BBUs for artificial intelligence (AI) data centers.

6 hours ago

Fayette County to Take Over Permitting and Inspection Work for LG Energy Solution-Honda U.S. Battery Plant

According to local U.S. media reports, the Fayette County Board of Commissioners in Ohio unanimously approved on June 29 a proposal for the county building department to resume reviewing building permits and conducting site inspections for the L-H Battery Company plant. The work had previously been handled by the state government. Following the decision, construction-related permitting and inspection authority for the battery plant near Jeffersonville will be transferred to Fayette County.

6 hours ago

Electric Vehicles Excluded From “Korean IRA” Tax Credit Scheme

In the tax reform plan announced on August 3, the South Korean government limited domestic production tax credit support to six sectors: semiconductors, secondary batteries, artificial intelligence (AI) robot components, critical materials, solar power and wind power. As a result, electric vehicles were excluded from the domestic production tax credit scheme, often referred to as the “Korean IRA.”

6 hours ago