[ SMM Weekly Review ] The cobalt sulphate market was active this week, with the market price center gradually moving higher.

Published: Dec 11, 2025 18:46

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The cobalt sulphate market was active this week, with the price center gradually moving upward. On the supply side, raw material costs provided rigid support, and smelters held prices firm: offers for MHP and scrap-derived routes were raised to 90,000–92,000 yuan/mt, while intermediate product offers remained at 95,000 yuan/mt. On the demand side, some downstream enterprises actively stockpiled, leading to a rapid decline in the availability of low-priced spot goods, and prices gradually increased. Some old stocks priced at 85,000–86,000 yuan/mt last week have now risen to around 88,000–90,000 yuan/mt. Overall, after continued depletion of social inventory, some buyers turned to inquire about high-priced new material from smelters, and a small number of transactions were concluded for MHP and scrap-derived cobalt sulphate. Cobalt sulphate prices still have upward momentum in the short term, and it is expected that recent low prices will stabilize above 90,000 yuan/mt.

The cobalt sulphate market was active this week, with the price center gradually moving upward. On the supply side, raw material costs provided rigid support, and smelters held prices firm: offers for MHP and recycled material routes were raised to 90,000–92,000 yuan/mt, while intermediate product offers remained at 95,000 yuan/mt. On the demand side, some downstream enterprises actively stockpiled, and the volume of low-priced goods available in the market declined rapidly, pushing prices gradually higher. Some old stock priced at 85,000–86,000 yuan/mt last week had risen to around 88,000–90,000 yuan/mt. Overall, after continued drawdowns in social inventory, some buyers turned to inquire about high-priced new material from smelters, and a small amount of MHP and recycled cobalt sulphate transactions were concluded. Cobalt sulphate prices still have upward momentum in the short term, and it is expected that low-end prices will stabilize above 90,000 yuan/mt in the near term.

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

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