[SMM Weekly Review] Spot Price of Cobalt Sulphate Rose Slowly This Week

Published: Aug 21, 2025 16:58

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[SMM Weekly Review] This week, the spot price of cobalt sulphate rose slowly. On the supply side, smelters and traders refused to budge on prices. The upstream selling sentiment factor was 1.95 this Thursday (compared to 2.02 last Thursday). Cobalt intermediate product smelters maintained their quotes at 54,000~55,000 yuan/mt, while MHP and recycling companies raised their quotes. Some companies had September orders locked in advance, and traders increased their old stock quotes to 50,000~51,000 yuan/mt. On the demand side, ternary cathode precursor manufacturers saw improved orders recently, with stronger inquiry intentions. The downstream purchasing sentiment factor was 1.96 this Thursday (compared to 1.94 last Thursday), and new cobalt sulphate transactions were made around 51,000 yuan/mt by precursor plants. It is expected that under the influence of continuously rising raw material costs, the price of cobalt sulphate will likely maintain a strong trend in the short term, but the extent of the increase still depends on the actual purchase situation downstream.

This week, the spot price of cobalt sulphate rose slowly. On the supply side, smelters and traders maintained their stance on prices, with the upstream delivery sentiment factor at 1.95 (last Thursday's delivery sentiment factor was 2.02). Cobalt intermediate product smelters kept their quotes at 54,000~55,000 yuan/mt, while MHP and recycling companies raised their quotes, and some companies had September orders locked in advance. Traders increased the prices of old stocks to 50,000~51,000 yuan/mt. On the demand side, recent orders for ternary cathode precursors improved, and the willingness to inquire about prices strengthened, with the downstream purchasing sentiment factor at 1.96 (last Thursday's purchasing sentiment factor was 1.94). New transactions for cobalt sulphate were made around 51,000 yuan/mt by precursor manufacturers. It is expected that under the influence of continuously rising raw material costs, the price of cobalt sulphate will continue to maintain a strong trend in the short term, but the extent of the increase still needs to be observed based on actual downstream purchases.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Xiao Wenhan 021-51666872

Zhou Zhicheng 021-51666711

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