[SMM Weekly Review] This week, the low-end price of refined cobalt rose slightly, while the high-end price remained stable

This week, the low-end price of refined cobalt rose slightly, while the high-end price remained stable. On the supply side, smelters maintained long-term contract supplies of refined cobalt, with fewer spot order quotations. Traders had limited low-priced inventory left, leading to an increase in low-end quotations. For high-end prices, some traders reported an increase in the ex-factory price of a certain high-end brand, and traders followed suit by refusing to budge on prices. However, due to weak purchase willingness downstream, the market transaction price gradually fell below the producer's ex-factory price. On the demand side, given the still high social inventory of refined cobalt and no significant improvement in downstream demand, most downstream producers maintained a just-in-time procurement rhythm, with actual transactions remaining relatively weak. It is expected that the refined cobalt price will continue to maintain a fluctuating trend in the short term.

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