Spot price of refined cobalt slightly recovered [SMM Weekly Review of Refined Cobalt Market]

This week, the spot price of refined cobalt has rebounded. Supply side, production cuts at refined cobalt smelters have continued, and the market is still digesting social inventory. Demand side, there has been no significant recovery in orders from downstream producers, who continue to maintain a purchasing rhythm of scheduling production according to demand, and there has been no significant inventory build-up in the downstream sector. According to the latest news, the Democratic Republic of the Congo (DRC) has not yet announced relevant policies on the ban on cobalt exports, and it is expected to announce the follow-up measures in June. It is anticipated that there will be little change in the short-term supply and demand situation next week, and the price of refined cobalt may fluctuate.

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