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

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