Spot price of cobalt chloride slightly declined [SMM Weekly Review of Cobalt Chloride Market]

This week, cobalt chloride prices have slightly declined. From the supply side, due to unresolved issues with the transportation cycle of overseas cobalt raw materials, smelters remain cautious in their pricing and have hardly engaged in any low-price dumping. From the demand side, downstream Co3O4 enterprises have slowed their procurement pace, with fewer market inquiries and spot transactions primarily driven by small-batch, just-in-time needs. It is expected that the peak sales season for new energy vehicles (NEVs) in Q3 may drive a rebound in downstream enterprises' restocking demand. The cobalt chloride market may continue to fluctuate at highs, with industry insiders maintaining a wait-and-see attitude towards cost transmission and policy expectations.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lv 021-20707875

Yueming Li 021-51666809

Zhicheng Zhou 021-51666711