The market continues to be bullish on cobalt chloride, with the highest offer reaching 64,000 yuan/mt.

Currently, the market quotation for cobalt chloride stands at 64,000-65,000 yuan/mt, with the actual transaction center remaining stable around 63,500 yuan/mt. Market transaction sentiment has declined WoW. On the supply side, upstream smelters continue to be bullish on cobalt products. As raw materials and cobalt chloride are consumed, the sentiment to hold back cargoes has intensified. On the demand side, due to the recent price increases, downstream wait-and-see sentiment has intensified, and they will purchase and restock when prices are appropriate. It is expected that prices will rise slightly next week.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711