This week, the spot price of cobalt chloride continued its downward trend, with overall sluggish market trading. On the supply side, some smelters chose to suspend quoting and shipping, waiting for clarity on the upcoming policies in the Democratic Republic of the Congo (DRC). A few smelters, however, continued to ship at lower prices, causing some disturbances to market price trends and market sentiment. On the demand side, downstream enterprises had relatively sufficient inventory levels, and market inquiry enthusiasm was low, with an overall wait-and-see attitude. Recently, informal information has had some impact on market sentiment, but overall market prices have remained relatively stable. Given that June 22 is a critical time point for the DRC government's policy announcement, it is expected that cobalt chloride prices will show significant fluctuations next week. If the policy ultimately takes the form of "postponing the export ban and implementing quota management," as widely anticipated by the market, there is a possibility of a substantial increase in cobalt chloride prices 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
