Cobalt chloride market activity marginally improved, short-term prices may rise mildly.

This week, domestic cobalt chloride market activity improved compared to the previous period, with the trading atmosphere marginally warming up. Supply side, the tight supply pattern of raw materials became quite evident, supporting producers in maintaining high quotations, with mainstream offers stabilizing around 110,000 yuan/mt; recycling enterprises also raised their quotes, with the current range concentrated at 105,000-108,000 yuan/mt. Demand side performed positively, as various segments of the industry chain engaged in communications regarding supply-demand layout for the next year's Q1, with some downstream enterprises having initiated procurement and purchasing enthusiasm steadily increasing. Overall, cobalt chloride prices possessed certain upward momentum in the short term, but the upside room remained relatively limited.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Zhou Zhicheng 021-51666711