[SMM Weekly Review] Refined cobalt price maintains fluctuating trend

This week, the spot price of refined cobalt maintained a fluctuating trend. Supply side, the economic efficiency of refined cobalt production remained relatively low, leading to a slight decline in smelters' capacity utilisation rate and a minor decrease in supply. However, the quoted prices remained stable. Demand side, with the future policy direction of the DRC still uncertain, downstream producers' purchasing pace has not changed significantly, and they continue to maintain a just-in-time procurement rhythm. Inquiries and buying interest remained relatively mediocre. It is expected that before the official implementation of the policy, the spot price of refined cobalt will continue to maintain a fluctuating trend.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lv 021-20707875

Wenhao Xiao 021-51666872

Zhicheng Zhou 021-51666711