[SMM Weekly Review] Refined Cobalt Spot Cargo Prices Continued to Fluctuate This Week

Published: Jan 8, 2026 17:59

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Refined cobalt spot prices continued to move sideways this week. On the supply side, raw material shortages persisted, and smelters continued to refrain from offering quotations. After the start of the new fiscal year, traders faced reduced pressure to sell, and amid bullish sentiment, their quoted discounts narrowed. On the demand side, alloy and magnetic material plants delayed purchases due to persistent losses, as end-user prices had not risen in sync, leading to a strong wait-and-see sentiment. Cobalt salt prices rose this week, restoring profits from reverse integration and providing a floor support for refined cobalt prices. Refined cobalt is expected to maintain sideways movement in the short term, pending further increases in cobalt salt prices to lift the price center.

Spot refined cobalt prices continued to move sideways this week. On the supply side, raw material shortages persisted, and smelters continued to refrain from offering prices. After the new fiscal year, traders faced reduced pressure to sell, and under the influence of bullish sentiment, the discount in their quotations narrowed. On the demand side, alloy and magnetic material plants, as end-user prices had not risen in sync, continued to face losses, leading to a temporary halt in procurement and a strong wait-and-see sentiment. Cobalt salt prices rose this week, restoring profits from reverse integration and providing a floor support for refined cobalt prices. Refined cobalt is expected to maintain sideways movement in the short term, pending further increases in cobalt salt prices to lift the price center.

SMM New Energy Research Team

Wang Cong 021-5166-6838

Ma Rui 021-5159-5780

Feng Disheng 021-5166-6714

Lü Yanlin 021-2070-7875

Xiao Wenhao 021-5166-6872

Wang Zhaoyu 021-5166-6827

Zhang Haohan 021-5166-6752

Wang Zihan 021-5166-6914

Wang Jie 021-5159-5902

Xu Yang 021-5166-6760

Yang Lianting 021-5159-5835

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