Refined cobalt spot price weakens [SMM Refined Cobalt Market Weekly Review]

This week, the spot price of refined cobalt continued to weaken. Supply side, following the decline in the economic efficiency of refined cobalt production, the production of refined cobalt this month still decreased slightly. Smelters continued to fulfill long-term contracts, and the spot order market still relied on the supply from traders. However, some recent news has stirred market sentiment, pushing down the transaction price of refined cobalt and leading to certain panic selling in the market. Currently, this appears to be merely a short-term emotional outburst, with no significant expected deviation in the actual supply and demand structure. Demand side, downstream producers are maintaining a purchasing-as-needed pace, and there has been no significant improvement in the purchase situation.

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