Cobalt Price Review & Forecast

Refined Cobalt Products

In the week of May 20-23, refined cobalt prices continued to rise. From the supply side, new production capacity is Steadily ramping up, and the market operating rate remains at a relatively high level. From the downstream demand side, end-user demand has resumed lower-than-expected, with only some essential purchases during the week. Market sentiment remains strong, and spot prices remain firm.

Cobalt intermediate products

In the week of May 20-23, cobalt intermediate product prices remained stagnant. Domestic supply is sufficient, But the available circulating supply is concentrated and relatively scarce. Smelters have a certain demand for raw materials due to production needs. There is a strong sentiment of refraining from selling among mines; some traders are concerned about future restocking issues, leading to a low willingness to sell. Although there are some offers in the market, there is a significant price spread between these offers sharply to promote transactions, accelerating the decline in cobalt salt prices.