[SMM Weekly Review] This week, the spot price of refined cobalt weakened

Published: Aug 14, 2025 18:05

Save

[SMM Weekly Review] This week, the spot price of refined cobalt weakened. Supply side, affected by rising production costs, smelters as a whole refused to budge on prices. Domestic futures prices fluctuated downward, with traders lowering their quotes accordingly, and some companies continued to reduce prices to secure transactions. Demand side, the market situation this week remained consistent with last week, with most downstream producers maintaining a just-in-time procurement rhythm. Market inquiry intentions were weak, and actual transactions were sluggish. In the short term, it is expected that the price of refined cobalt will remain in the doldrums. Subsequent price trends will require close attention to rising costs, as well as the actual procurement situation after the downstream summer break ends at the end of August.

This week, the spot price of refined cobalt weakened. On the supply side, smelters generally maintained their refusal to budge on prices due to the rising production costs. Domestic futures prices fluctuated downward, with traders lowering their quotes accordingly. Some enterprises continued to reduce prices to secure transactions. On the demand side, the market situation this week remained consistent with last week. Most downstream producers maintained a just-in-time procurement rhythm, with weak market inquiry intentions and relatively light actual transactions. In the short term, it is expected that the refined cobalt price will remain in the doldrums. Subsequent price trends will require close attention to rising costs and the actual procurement situation after the summer break of downstream enterprises ends at the end of August.

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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

15 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

15 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

15 hours ago