[SMM Weekly Review] Cobalt Sulphate Prices Rose Slightly This Week, and the Market Center Shifted Upward

Published: Dec 4, 2025 17:23

Save

Cobalt sulphate prices edged up this week, with the market center shifting higher. Supply side, rigid raw material costs provided firm support, and smelters held prices firm: offers for the MHP and scrap-derived routes remained locked in at 88,000–90,000 yuan/mt, while the intermediate product route held firm above 90,000 yuan/mt. Demand side, purchase willingness among downstream buyers improved noticeably since last Friday, and low-priced old inventory below 85,000 yuan/mt from traders was largely depleted. Some buying interest shifted to inquiries for high-priced new material from smelters, with a small volume of MHP-derived cobalt sulphate concluded. Due to high prices, trading activity for the intermediate product route remained subdued. Although price discrepancies between upstream and downstream persisted, buyer acceptance of current prices gradually improved. Once downstream buyers complete phased digestion and initiate a new round of concentrated procurement, cobalt salt offers are expected to test higher again.

Cobalt sulphate prices edged up this week, with the market center shifting higher. Supply side, rigid cost support from raw materials kept smelters firm in holding prices: offers for MHP and scrap-derived routes remained locked at 88,000–90,000 yuan/mt, while the intermediate product route stayed above 90,000 yuan/mt. Demand side, purchase willingness among downstream buyers noticeably warmed up since last Friday. Traders' old inventories priced below 85,000 yuan/mt were largely depleted, prompting some buyers to inquire about higher-priced new material from smelters, with a small volume of MHP-based cobalt sulphate concluded. Transactions for the intermediate product route remained thin due to high prices. Although price divergence between upstream and downstream persists, buyers' acceptance of current prices gradually improved. After downstream buyers complete phased digestion and initiate the next round of concentrated procurement, cobalt salt offers are expected to climb further.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Wenhao Xiao 021-51666872

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Jie Wang 021-51595902

Yang Xu 021-51666760

Lianting Yang 021-51595835

Zhaoyu Wang 021-51666827

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

20 hours ago

In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.

According to the latest data from the Passenger Car Association, in December 2025, producers with new energy wholesale sales exceeding 10,000 units accounted for 93% of the total wholesale sales of passenger NEVs that month. Based on preliminary January data, these producers achieved sales of 830,000 units in January. As most producers have already locked in their major sales figures, by applying the structural proportion from the previous month to the current month's data, the estimated wholesale sales of passenger NEVs nationwide in January were 900,000 units. According to comprehensive preliminary monthly association data: the estimated wholesale sales of NEVs by national passenger car producers in January 2026 were 900,000 units, up 1% YoY.

20 hours ago

CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.

据中国汽车工业协会整理的海关总署数据显示，2025年12月，汽车整车进口3.0万辆，环比下降30.4%，同比下降56.1%；进口金额14.7亿美元，环比下降23.6%，同比下降52.5%。2025年，汽车整车进口47.6万辆，同比下降32.4%；进口金额236.4亿美元，同比下降39.7%。

20 hours ago

Canada Announces New EV Strategy, to Collaborate with China

According to CCTV News, on February 5, Canadian Prime Minister Mark Carney announced a new electric vehicle strategy, including the reinstatement of car purchase subsidies, and stated that Canada will cooperate with China to promote the local production and export of EVs in Canada. According to a statement released by the Prime Minister's Office of Canada, the country will make full use of existing and newly established trade agreements, including a recently reached EV cooperation agreement with China, to facilitate large-scale investment in this sector, diversify Canada’s automotive export markets, and position Canada as one of the global leaders in the electric vehicle industry.

20 hours ago