Cobalt Chloride: Strong Cost Support and Intense Market Wait-and-See Sentiment

This week, cobalt chloride enterprise offers remained at 70,000-75,000 yuan/mt, with a weak market trading atmosphere. Cost side, intermediate product prices have risen to 14.4-14.6 $/lb, providing strong support for cobalt chloride prices. However, due to the cobalt export policy expected to be introduced by the DRC in September and the recent rapid price increase, downstream enterprises generally hold a wait-and-see attitude towards high-priced cobalt chloride. Currently, market expectations for a delay in the DRC policy are high, and cobalt chloride prices are expected to have further upside room next week, with actual transaction prices potentially exceeding 72,000 yuan/mt.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Zhou Zhicheng 021-51666711