[SMM Weekly Review] The price center of cobalt sulphate continued to rise this week, but overall trading was relatively sluggish.

This week, the price center of cobalt sulphate continued to rise, but overall transactions were relatively sluggish. On the supply side, smelters faced shortages of raw materials and kept raising their offers. Medium- to high-grade cobalt sulphate offers increased to 95,000 yuan/mt, and if downstream buyers showed clear intent, transaction prices could be slightly lowered. Low-grade cobalt sulphate was offered at 95,000-97,000 yuan/mt. Traders had limited old stock available for circulation and also raised their offers rapidly. On the demand side, activity was relatively quiet. In the ternary sector, due to severe losses and unsigned long-term agreements, only restocking for rigid demand occurred. In the cobalt tetroxide sector, due to hindered price transmission and ample inventory, purchase willingness remained relatively low. Overall, supported by costs, cobalt sulphate prices are expected to remain strong, but a smooth price rise still awaits the start of the next round of concentrated procurement from downstream.

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

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Yang Lianting 021-51595835

Wang Zhaoyu 021-51666827