Spot‑price declines for cobalt metal widened this week, with overall market sentiment weakening.

Spot‑price declines for cobalt metal widened this week, with overall market sentiment weakening. On the supply side, mainstream smelters cut their ex‑factory offers to RMB 340,000 per tonne, while most small‑and‑medium‑sized smelters have largely suspended quoting due to loss‑making pressures. On the demand side, downstream players remain in the summer‑shutdown cycle with muted purchasing appetite, only conducting small‑volume restocking for rigid‑demand needs.

This week’s price drop was mainly sentiment‑driven. Overseas spot and futures quotation platforms lowered their offers simultaneously. Previously resilient overseas prices softened, weighing notably on domestic market sentiment. Coupled with persistent price weakness of Chinese cobalt salts and cobalt intermediate products, bearish market sentiment has gradually intensified. Some previously on‑hold stockholders started offloading stocks, adding further downward price pressure.

Overall, the market is in cobalt’s traditional consumption off‑season with limited demand‑side support. Combined with softer overseas prices and bearish sentiment, prices may stay weak in the near term.