[SMM Weekly Review] Cobalt Sulphate Spot Prices Continued to Rise Rapidly This Week

Published: Oct 16, 2025 17:15

Save

Spot cobalt sulphate prices continued to rise rapidly this week. Supply side, the cobalt export quota policy announced by the DRC over the weekend heightened smelters' concerns about future raw material supply, prompting enterprises to generally continue suspending offers and further raising their intended selling prices. Among them, the intended price for cobalt sulphate produced from intermediate products was raised to around 91,000–93,000 yuan/mt, while the intended price for MHP and scrap-derived cobalt sulphate also generally increased to approximately 86,000–88,000 yuan/mt. Demand side, overall market changes were relatively small this week, with some cathode enterprises still making small-scale stockpiling due to concerns about potential cobalt supply shortages. However, ternary cathode precursor and Co3O4 enterprises remained cautious in their purchasing activities, constrained by the rapid price increase of cobalt sulphate and their own orders not yet being fully locked in. Overall, driven by the continuous rise in raw material costs and long-term stockpiling demand from downstream sectors, cobalt sulphate prices are expected to hold up well in the short term.

This week, spot prices for cobalt sulphate continued to rise rapidly. Supply side, the cobalt export quota policy announced by the DRC over the weekend heightened smelters' concerns about future raw material supply, leading enterprises to generally continue suspending quotations and further raising their intended selling prices. Among them, the intended price for cobalt sulphate produced from intermediate products has been raised to around 91,000-93,000 yuan/mt, while the intended prices for MHP and recycling enterprises have also generally increased to approximately 86,000-88,000 yuan/mt. Demand side, overall market changes were relatively small this week, with some cathode enterprises still conducting small-scale stockpiling due to concerns about potential cobalt supply shortages. However, ternary cathode precursor and Co3O4 enterprises, constrained by the rapid price increase of cobalt sulphate and their own orders not being fully locked in, remained cautious in their purchasing behavior. Overall, driven by the continuous rise in raw material costs and long-term stockpiling demand from downstream sectors, cobalt sulphate prices are expected to maintain a strong trend in the short term.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Wenhao Xiao 021-51666872

Zhicheng Zhou 021-51666711

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

1 hour ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

1 hour ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

1 hour ago