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

This week, the spot price of refined cobalt fell significantly. Supply side, the market is still digesting the pace of social inventory reduction. The economic viability of refined cobalt production continues to decline, and production cuts at smelters are likely to persist. In terms of quotation levels, traders' quotes continue to decline in line with the futures market. Recently, some traders have been influenced by funding costs and have chosen to exit the market and sell their inventory. Demand side, amid falling prices, the purchase situation of downstream producers has slightly improved, with inquiries and buying interest picking up. It is expected that next week, the spot price of refined cobalt may continue to 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