[SMM Weekly Review] This week, domestic spot prices for refined cobalt maintained a fluctuating trend.

Published: Dec 11, 2025 18:49

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This week, domestic spot refined cobalt prices maintained a fluctuating trend. Supply side, supported by raw material costs, smelters continued to hold prices firm; mid-week, cobalt futures fluctuated significantly amid various market news disturbances, leading to chaotic market quotations. Some traders, concerned about continued price declines, sold off at low prices, while simultaneously, traders outside the industry were actively bullish on cobalt prices, preparing to stockpile. Demand side, amid sharp price fluctuations, downstream procurement remained cautious, maintaining a just-in-time procurement pace. The current price evolution pattern for refined cobalt has not changed, still awaiting cobalt salt price increases to drive its own upward movement.

This week, the spot price of domestic refined cobalt maintained a fluctuating trend. On the supply side, supported by raw material costs, smelters continued to hold prices firm; this week, the electronic trading platform fluctuated significantly amid various market news disturbances, leading to chaotic market quotations. Mid-week, some traders, concerned about continued price declines, sold off at low prices, but at the same time, traders outside the industry actively remained bullish on cobalt prices and prepared to enter the market for stockpiling. On the demand side, amid sharp price fluctuations, downstream procurement remained cautious, maintaining a just-in-time procurement pace. The current evolving pattern of refined cobalt prices has not changed, and it still requires waiting for cobalt salt prices to rise to drive its own upward movement.

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

Wang Zhaoyu 021-51666827

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Yang Lianting 021-51595835

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.

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