[SMM Weekly Review] Cobalt Sulphate Spot Prices Held Steady This Week

Published: Oct 30, 2025 17:42

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Spot cobalt sulphate prices remained stable this week. Supply side, smelters believed the cobalt market would remain tight in the future, were bullish on the outlook, and refused to budge on prices. Demand side, downstream producers actively stockpiled after the National Day holiday, with some enterprises having completed this year's stockpiling. At this period, purchasing sentiment was weak, and it was difficult to accept smelters' high quotations. Overall, upstream and downstream enterprises still diverged on prices, and the market remained in a deadlock in the short term. Cobalt sulphate prices are likely to remain stable, waiting for downstream players to gradually digest and accept the prices. The next round of cobalt salt price increases is expected to wait until downstream players begin a new round of purchasing.

Spot cobalt sulphate prices held steady this week. Supply side, smelters believed the cobalt market would remain tight in the future, were bullish on the outlook, and refused to budge on prices. Demand side, downstream producers actively stockpiled after the National Day holiday, with some enterprises having completed their stockpiling for the year. At this period, purchasing sentiment was weak, making it difficult to accept the high offers from smelters. Overall, upstream and downstream enterprises still had differences over prices, and the market remained in a deadlock in the short term. Cobalt sulphate prices are likely to remain stable, waiting for downstream players to gradually digest and accept the prices. The next round of cobalt salt price increases is expected to require downstream players to begin a new round of purchasing.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Xiao Wenhao 021-51666872

Zhou Zhicheng 021-51666711

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