[SMM Weekly Review] Cobalt sulphate prices rose slightly this week

This week, the price of cobalt sulphate rose slightly, with market transaction prices climbing to 4.9-5.2. Many enterprises reported transactions near 50,000, and some large smelters also achieved a certain volume of transactions near 5.2. On the supply side, enterprises currently maintain a bullish sentiment, with the quoted prices for new goods from smelters gradually increasing, and some traders also raising the prices of their old stocks. On the demand side, downstream demand has diverged. Ternary orders have still not seen significant improvement, with enterprises choosing to wait and see the market, focusing on digesting previous inventories. For cobalt tetroxide (Co3O4) and traditional chemical enterprises, the current prices are relatively favorable, prompting some enterprises to make purchases in the market. Refined cobalt purchases remain suspended due to its weak economic viability. Overall, the willingness to inquire about prices in the market this week has improved, and actual transactions have also seen a certain increase compared to previous weeks. It is expected that under the influence of continuously rising raw material costs, the price of cobalt sulphate may continue to maintain a strong trend next week.

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