[SMM Weekly Review] The Price Center of Cobalt Sulphate Edged Up Slightly This Week

Published: Nov 13, 2025 18:53

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The price center of cobalt sulphate edged up slightly this week. Over the weekend, domestic enterprises announced a suspension of toll processing for intermediate products, which boosted market sentiment and improved transaction activity. On the supply side, driven by production costs, smelters continued to raise their offers: quotations for cobalt sulphate produced from MHP and recycled materials reached 88,000-90,000 yuan/mt, while offers for cobalt sulphate made from intermediate products approached 95,000 yuan/mt. On the demand side, purchase willingness strengthened, with some enterprises accepting traders' low-priced old inventory, while others began to take on smelters' high-priced new material, driving the overall transaction price upward. The market remains in a tug-of-war between sellers and buyers, with price discrepancies persisting between upstream and downstream players. In the short term, cobalt sulphate prices are expected to stabilize. Once downstream players gradually digest the current price levels and initiate a new round of procurement, cobalt salt prices are likely to resume their upward trend.

The price center of cobalt sulphate edged up slightly this week. Domestic enterprises announced the suspension of toll processing for intermediate products over the weekend, boosting market sentiment and improving transaction activity. On the supply side, driven by production costs, smelters continued to raise offers: quotations for cobalt sulphate produced from MHP and recycled materials reached 88,000-90,000 yuan/mt, while offers for cobalt sulphate made from intermediate products approached 95,000 yuan/mt. On the demand side, purchase willingness strengthened, with some enterprises accepting traders' low-priced old inventory, and others beginning to take on smelters' high-priced new material, pushing overall transaction prices higher. The market remains in a tug-of-war between sellers and buyers, with price discrepancies persisting between upstream and downstream. In the short term, cobalt sulphate prices are expected to stabilize; once downstream players gradually digest current prices and initiate a new round of procurement, cobalt salt prices are likely to resume their upward trend.

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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