Spot price of cobalt sulphate declines, with extremely weak downstream purchasing sentiment [SMM Weekly Review of Cobalt Sulphate Market]

This week, the spot price of cobalt sulphate declined. Supply side, spot quotes for cobalt sulphate from smelters and recycling plants both fell. Actual transactions were mainly sporadic small orders, and transaction prices continued to decline. Demand side, the overall purchase sentiment of downstream producers was poor. With some ternary cathode precursor plants experiencing a slight reduction in orders, the overall stockpiling demand was weak. Additionally, as Co3O4 producers had built up inventories in the earlier period, Co3O4 sales slowed down slightly in the short term, and producers' purchase willingness further declined. Currently, market transactions are mainly sporadic small orders, and no bulk purchasing activities have emerged. It is expected that the spot price of cobalt sulphate may continue to fluctuate and weaken next week.

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