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

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