【SMM Analysis】Spot Price of Refined Cobalt Rises Slightly

Published: Apr 24, 2025 14:36

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【SMM Analysis: Spot Price of Refined Cobalt Rose Slightly】 This week, the spot price of refined cobalt fluctuated upward. Supply side, the current social inventory in the market remained high, but the inventory structure slightly differed. Supply side, due to the persistently high raw material prices, the economic viability of refined cobalt production was poor, and smelters showed low enthusiasm for producing refined cobalt, with some smelters implementing production cuts. Demand side, downstream producers showed slightly increased inquiry activity but were reluctant to stock up at high prices. It is expected that next week, the price of refined cobalt will maintain a fluctuating trend.

This week, the spot price of refined cobalt fluctuated upward. Supply side, the current social inventory in the market remained high, but the inventory structure slightly differed. Supply side, due to the persistently high raw material prices, the economic viability of refined cobalt production was poor, and smelters showed low enthusiasm for producing refined cobalt, with some smelters implementing production cuts. Demand side, downstream producers showed slightly increased inquiry activity but were reluctant to stock up at high prices. It is expected that the price of refined cobalt will maintain a fluctuating trend next week.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lv 021-20707875

Yujun Liu 021-20707895

Yueming Li 021-51666809

Zhicheng Zhou 021-51666711

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.

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