SMM Analysis of China December Cobalt Sulphate Production and January Forecast

In December 2024, China's cobalt sulphate production increased 9% MoM and 6% YoY. The main reason for the production increase in December was that some producers, whose inventory had previously been at high levels, resumed production after completing destocking. Although some recycling enterprises in the market suspended production, the overall increase outweighed the decrease, resulting in a MoM increase in cobalt sulphate production in December. It is expected that in January 2025, due to the Chinese New Year holiday, the overall cobalt sulphate production will decrease.