Refined cobalt
In the week ending March 14, refined cobalt prices slightly increased. Production is stable, demand recovery is slow, and with short-term supply constraints and high raw material costs, spot market prices are firm, leading to a slight rise due to immediate-need transactions.
Cobalt intermediate products
In the week ending March 14, cobalt intermediates product prices rose marginally. Supply is under minor pressure due to transport delays, and there are concerns about further downstream price increases, leading to some stocking activity. Despite the uptick, overall market buying is limited by high cobalt costs from raw materials, with spot prices rising only due to select, immediate-need transactions.
Cobalt salts (cobalt sulphate and cobalt chloride)
In the week ending March 14, cobalt salt prices saw a slight increase. Rising raw material costs led to unprofitable spot prices, prompting some smaller plants to halt production and resulting in a low operating rate in the cobalt salt industry. Co3O4 demand is low, affecting sales, but some ternary precursor companies are interested in restocking High costs are causing salt factories to keep prices stable, while manufacturers are reluctant to pay more, resulting in few transactions. The price increase is due to regular industry demand and a decrease in cheap supply. Trader stockpiling may lead to lower prices to clear inventory and improve capital turnover, which could disrupt the cobalt salt market soon.
Cobalt Salts (Co3O4)
For the week ending March 14, Co3O4 prices remained stable. Smelters maintained production to fulfill orders, and there was a minor increase in downstream restocking, leading to a few additional orders. Market trends indicate that increases in raw material costs are not readily passed downstream. LCO producers resist accepting higher Co3O4 prices, preventing transactions from pushing prices up.
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