[SMM Analysis] Spot Price of Cobalt Intermediate Products Rises

Published: Apr 30, 2025 16:41

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[SMM Analysis: Rise in Spot Price of Cobalt Intermediate Products] This week, the spot price of cobalt intermediate products has risen. On the supply side, the current market circulation of goods is still dominated by traders. The spot quotes for cobalt intermediate products have increased in line with buying sentiment, while mainstream miners continue to fulfill long-term contracts and have ceased quoting spot orders. On the demand side, a small number of downstream producers are experiencing tight raw material supplies. However, overall, downstream producers are heavily concerned about raw material availability, with some actively stockpiling. As a result, spot transactions of cobalt intermediate products have been active. It is expected that next week, the market will still need time to further absorb the current situation, and the spot price of cobalt intermediate products may remain stable.

This week, the spot price of cobalt intermediate products rose. On the supply side, upstream producers generally suspended spot order quotations to ensure supply for long-term contract customers. The expected delivery time for some long-term contracts was extended. Only some traders were trading and shipping goods in the market, and the overall supply of circulating goods in the market was relatively low. A small number of downstream producers experienced a shortage of raw materials, and the overall enthusiasm for inquiries and purchases increased somewhat, with actual transactions of cobalt intermediate products showing some improvement. It is expected that next week, the short-term supply-demand pattern is unlikely to improve, and the spot price of cobalt intermediate products may fluctuate upward.

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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