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

This week, the spot price of refined cobalt fluctuated downward. On the supply side, affected by the continuous rise in costs, smelters maintained their stance on refusing to budge on prices and basically suspended spot order quotations. The domestic market sentiment for refined cobalt was weak, with traders gradually lowering their quotes, and some companies continuously reducing prices to achieve transactions. On the demand side, there were relatively small changes in the short term, with most downstream producers maintaining a just-in-time procurement pace. The market inquiry willingness was weak, and actual transactions were light. It is expected that the price of refined cobalt will maintain a fluctuating trend in the short term. Subsequent price changes need to closely monitor the increase in costs and the actual purchasing situation after the end of the summer break at the month-end.

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