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Home / Metal News / [SMM Weekly Review] Spot Prices of Cobalt Intermediate Products Maintained an Upward Trend This Week
[SMM Weekly Review] Spot Prices of Cobalt Intermediate Products Maintained an Upward Trend This Week
Oct 30, 2025 17:43Spot prices for cobalt intermediate products maintained an upward trend this week. Since international miners halted quotations in September, the market has remained seller-dominated with limited changes. In terms of supply, major miners and traders continued to suspend offers. On the demand side, overall market activity saw limited changes, with downstream smelters gradually raising their inquiry prices. However, constrained by suppliers' firm stance on refusing to budge on prices, actual transactions remained sluggish, and the market continued to exhibit a "price without market" pattern. On October 16, the DRC announced the lifting of the ban, but due to procedural issues, shipments from ports have not yet resumed. Considering the two-to-three-month shipping time from the DRC to China, China's cobalt raw material supply is expected to remain structurally tight until the first quarter of next year, and cobalt intermediate product prices are anticipated to retain further upward momentum.
Spot prices for cobalt intermediate products continued their upward trend this week. Since international miners suspended quotations in September, the market has remained seller-dominated with limited changes. Supply side, major miners and traders continued to hold off on offering prices. Demand side, overall market activity saw limited changes; downstream smelters gradually raised their inquiry prices, but actual transactions remained sluggish due to suppliers' firm stance on refusing to budge on prices, sustaining a "price without market" pattern. On October 16, the DRC announced the lifting of the ban, but shipments from ports have not yet resumed due to procedural issues. Considering the 2-3 month shipping time from the DRC to China, China's cobalt raw material supply is expected to remain structurally tight until Q1 next year, and cobalt intermediate product prices are anticipated to maintain further upward momentum.
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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