[SMM Analysis] Refined Cobalt Spot Price Strengthens

This week, the spot price of refined cobalt fluctuated upward. From the supply side, social inventory in the market remains relatively high. However, due to tight raw material supply and declining economic viability of refined cobalt production, some smelters have implemented production cuts. The market expects a potential decline in the available supply in the future. From the demand side, the inquiry enthusiasm of downstream producers has slightly increased, but they are still maintaining a production schedule based on demand. It is expected that after the holiday, the refined cobalt price will maintain a fluctuating trend.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Liu Yujun 021-20707895

Li Yueming 021-51666809

Zhou Zhicheng 021-51666711