[SMM Weekly Review] Spot price of cobalt intermediate products remains stable

Published: Jun 19, 2025 17:41

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[SMM Weekly Review] This week, the spot price of cobalt intermediate products remained stable. Supply side, mainstream mines continued to maintain the supply rhythm of long-term contracts, and traders' offers remained stable. Demand side, downstream smelters continued to deplete their inventories, and the inquiry sentiment of some traders strengthened, but actual transactions were limited. Overall, this week, due to the uncertainty surrounding the subsequent policies in the DRC, buyers and sellers remained cautious, and overall spot transactions were sluggish. By the end of this week, policies in the DRC may be officially announced. It is expected that after the policies are implemented, some smelters that had previously stockpiled less will gradually resume procurement, and market transactions may improve.

This week, the spot price of cobalt intermediate products remained stable. On the supply side, mainstream mines continued to maintain the supply rhythm of long-term contracts, and traders' offers for cargo sources remained stable. On the demand side, downstream smelters continued to deplete their inventories, and the inquiry sentiment of some traders strengthened, but actual transactions were limited. Overall, as the subsequent policies of the DRC remained undetermined this week, buyers and sellers remained cautious, and overall spot transactions were sluggish. The DRC's policies may be officially announced by the end of this week. It is expected that after the policies are implemented, some smelters with relatively low stockpiles will gradually resume procurement, and market transactions may improve.

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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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