Refined cobalt
Refined cobalt prices continued to fall in the week ending April 25 due to abundant supply and weak demand from end-users. Despite high operating rates at smelting plants, weak demand from end-users is leading to an expanding oversupply, which is likely to further weaken prices.
Cobalt intermediate products
Cobalt intermediate products prices slightly declined in the week ending April 25 due to sufficient supply and cautious raw material procurement by cobalt smelters anticipating production cuts. With a downward trend in cobalt products and ample raw material supply, spot prices face pressure to decrease. Prices are expected to remain weakly stable in the short term.
Cobalt salt (cobalt sulphate and cobalt chloride)
Cobalt salt prices continued to decline in the week ending April 25. The supply side is marked by a low operating rate with no increase in production. On the demand side, there is a slight recovery, as some buyers of precursors and Co3O4 are looking to stock up ahead of the holiday. Despite available inventories across the supply chain and some downstream purchasing plans, the pressure to lower prices remains strong. Cobalt salt factories, facing high inventory costs, are reluctant to reduce prices further under cost pressures. This led to a stalemate in market transactions.
Please do not hesitate to contact Jean at jeantang@smm.cn or 86-19946295759 if you have any question or inquiry.
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