Tight supply coupled with rigid demand supports the upward trend in cobalt chloride prices

Currently, the quotation range for cobalt chloride in the market is 62,000-64,000 yuan/mt, with trading volume showing a MoM increase. On the supply side, smelters have adopted a tighter shipping strategy, with a reluctance to sell, driving quotations higher. On the demand side, downstream customers' purchases are mainly driven by immediate needs, with single transaction volumes being relatively small. The actual transaction prices are concentrated in the range of 62,000-63,000 yuan/mt. Considering the changes in the supply-demand pattern, it is expected that cobalt chloride prices will continue to rise in the future.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lv 021-20707875

Zhicheng Zhou 021-51666711