[SMM Weekly Review] Spot price of cobalt intermediate products rises slightly

This week, cobalt intermediate product prices rose slightly. On the supply side, most mines and traders held a bullish sentiment and suspended quoting prices, while a small number of quoting enterprises maintained their refusal to budge on prices. On the demand side, smelters faced challenges such as losses in production costs and weak downstream demand. Given the uncertain future situation, they still postponed procurement and mainly consumed their own inventory. Some smelters with relatively low inventory levels attempted to inquire about prices in the market, but due to significant price differences between buyers and sellers, actual transactions remained difficult. Overall, affected by the DRC's extension policy, China's cobalt intermediate products will still face a shortage of raw materials in the future, and there is upward momentum in prices. However, during this process, attention needs to be paid to the inhibition of downstream demand caused by the rise in raw material prices.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Xiao Wenhao 021-51666872

Zhou Zhicheng 021-51666711