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[SMM Weekly Review] Spot refined cobalt prices fluctuated upward this week.
Nov 13, 2025 18:51This week, spot prices of refined cobalt fluctuated upward. On the supply side, supported by raw material costs, enterprises held prices firm, and traders raised their quotations following the rebound in futures. On the demand side, after previous fluctuations, just-in-time procurement remained the primary approach. However, as prices stabilized, some enterprises' purchase willingness rebounded, leading to improved transactions. Currently, the price spread between refined cobalt and cobalt salts has returned to a reasonable range, and further price increases will still depend on the upward movement of cobalt salt prices.
Spot prices of refined cobalt fluctuated upward this week. Supported by raw material costs, suppliers held prices firm, while traders raised their offers following a rebound in futures. On the demand side, just-in-time procurement remained the primary approach after previous fluctuations, but as prices stabilized, purchase willingness among some enterprises rebounded, leading to improved transactions. The price spread between refined cobalt and cobalt salts has returned to a reasonable range, and further increases will still depend on cobalt salt prices.
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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