[SMM Weekly Review] This week, the price of cobalt sulphate maintained a fluctuating trend

This week, the price of cobalt sulphate maintained a fluctuating trend. On the supply side, a certain miner announced force majeure this week, leading to further increases in the quotes for new goods from most smelters and traders. Some smelters and traders reported that there were transactions of older goods at lower prices in the market. On the demand side, orders from downstream ternary and Co3O4 enterprises have not shown significant improvement yet. They have decided to wait and see, focusing on digesting their previous inventories. Due to its poor economic viability, the purchase of refined cobalt remains suspended. Overall, amid the current unclear situation, there is a significant price divergence between buyers and sellers in the market. Upstream suppliers insist on refusing to budge on prices, while downstream buyers have weak purchase willingness, resulting in limited actual transactions in the market. It is expected that the price of cobalt sulphate may continue to fluctuate next week, pending feedback from actual market transactions.

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