[SMM Weekly Review] Cobalt Sulphate Prices Rose This Week

Published: Sep 25, 2025 18:21

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Cobalt sulphate prices rose again this week. Supply side, smelters remained bullish on future cobalt prices, temporarily suspended quotations and raised their intended selling prices. Intermediate product smelters increased their target prices to above 65,000 yuan/mt, while MHP and recycling enterprises raised their target prices to 61,500–62,000 yuan/mt. Demand side, some downstream ternary and Co3O4 enterprises were concerned about potential supply shortages, leading to a slight increase in purchase willingness recently. Ternary enterprises concluded transactions at 59,000–60,000 yuan/mt, while Co3O4 enterprises traded at 65,000 yuan/mt. Overall, driven by rising raw material prices and downstream stockpiling, cobalt sulphate prices are expected to remain strong.

Cobalt sulphate prices continued to rise this week. Supply side, smelters remained bullish on future cobalt prices, temporarily suspending quotations and raising intended selling prices. Intermediate product smelters increased their target prices to above 65,000 yuan/mt, while MHP and recycling enterprises raised their target prices to 61,500-62,000 yuan/mt. Demand side, some downstream ternary and cobalt tetroxide enterprises, concerned about potential supply gaps, showed increased purchase willingness recently. Ternary enterprises concluded transactions at 59,000-60,000 yuan/mt, and cobalt tetroxide enterprises at 65,000 yuan/mt. Overall, driven by rising raw material costs and downstream stockpiling, cobalt sulphate prices are expected to maintain a strong trend.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Xiao Wenhao 021-51666872

Zhou Zhicheng 021-51666711

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