Cobalt Chloride: Quotation Range Remains Stable, Wait-and-See Sentiment Continues to Intensify

This week, the cobalt chloride market continued its stable trend, with mainstream quotations from smelters remaining locked in the range of 105,000–110,000 yuan/mt. The actual transaction range remained unchanged at 102,000–105,000 yuan/mt. Supply side, upstream suppliers and traders maintained stable shipment pace, easing the previously tight market supply and providing fundamental support for price stability. Demand side, the wait-and-see sentiment persisted from last week, with downstream enterprises maintaining a steady procurement pace amid stable prices, primarily restocking based on demand, further intensifying the wait-and-see sentiment. Notably, the current price level slightly above 100,000 yuan/mt continues to receive high acceptance from downstream users, coupled with the long-term logic of structural tightness in global cobalt raw material supply, providing solid fundamental support for prices, with little likelihood of significant fluctuations in the short term.

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