[SMM Weekly Review] Refined Cobalt Prices Continued to Decline This Week

Published: Dec 26, 2024 18:16

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[SMM Weekly Review: Refined Cobalt Prices Continued to Decline This Week] Refined cobalt prices saw a slight decline this week. Supply side, the operating rates of major refined cobalt smelters remained stable, and spot supply was sufficient overall. Demand side, the overseas Christmas holiday during the week led to sluggish overseas demand; domestically, there was some sporadic stockpiling earlier, but demand weakened as the year-end approached. Overall, the market remained relatively quiet, with limited inquiries and transactions, putting downward pressure on spot prices. Looking ahead, stockpiling demand in the market is expected to have largely ended, and the short-term supply-demand pattern may remain stable, with spot prices staying weak.

This week, refined cobalt prices slightly declined. Supply side, the operating rate of mainstream refined cobalt smelters remained stable, and overall spot supply was sufficient. Demand side, overseas demand was sluggish due to the Christmas holiday, while domestic demand weakened near the year-end after some sporadic stockpiling earlier. Overall, the market remained relatively quiet, with limited inquiries and transactions, putting downward pressure on spot prices. Looking ahead, stockpiling demand in the market is expected to have largely ended, and the short-term supply-demand pattern may remain unchanged, with spot prices staying weak.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711

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