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

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