[SMM Weekly Review] Cobalt Sulphate Sentiment Recovered This Week, with the Transaction Center Continuing to Rise

Cobalt sulphate sentiment rebounded this week, with the transaction center continuing to move upward. On the supply side, smelters held prices firm, and medium-to-high nickel cobalt sulphate traded in small volumes near 95,000 yuan/mt, with offers raised further to 96,000 yuan/mt. Low nickel cobalt sulphate traded at a high of around 98,000 yuan/mt, and offers were raised to 98,000–100,000 yuan/mt. On the demand side, influenced by the export tax rebate policy, purchase willingness from ternary and Co3O4 enterprises rebounded simultaneously, and spot inquiry activity increased significantly. Overall, supported by downstream procurement and cost factors, cobalt sulphate prices were expected to hold up well in the short term.

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