[SMM Weekly Review] The price of refined cobalt dropped slightly this week

This week, refined cobalt prices dropped slightly. On the supply side, smelters producing refined cobalt maintained long-term contract supplies, with fewer spot order quotations. The ex-factory price remained unchanged due to production costs. Domestic futures market prices fell due to market news disruptions, with both traders' quotations and transaction prices following suit. On the demand side, due to the still high social inventory of refined cobalt and weakened downstream demand amid high temperatures, most downstream producers maintained a just-in-time procurement rhythm, with actual transactions remaining relatively light. It is expected that refined cobalt prices will maintain a fluctuating trend in the short term, and subsequent price movements will require close attention to cost increases and the digestion of social inventory.

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