[SMM Weekly Review] Spot price of cobalt sulphate in the doldrums, downstream maintains wait-and-see attitude

This week, the spot price of cobalt sulphate remained in the doldrums. From the supply side, the quotes from mainstream smelters changed relatively small, while some recyclers slightly lowered their spot quotes for cobalt sulphate. From the demand side, there has been no significant improvement in the order situation of material producers. Additionally, refined cobalt production was cut due to its poor economic performance. Coupled with the ongoing uncertainty surrounding future policies in the DRC, downstream producers generally maintained a wait-and-see sentiment, with consistently low purchase willingness and no bulk purchasing activities observed. It is expected that the spot price of cobalt sulphate will continue to fluctuate weakly before the official implementation of the policies.

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