[SMM Analysis: Refined Cobalt Prices Declined Further This Week]
This week, refined cobalt prices edged down slightly.
Supply side, current market inventory remains high, and mainstream smelters are operating at high rates, resulting in ample overall supply.
Demand side, year-end stockpiling has essentially concluded, and market inquiries were relatively quiet during the week.
Considering the overall market situation, as the market sentiment towards cobalt prices remains pessimistic, large-scale stockpiling in the spot market has yet to occur. The market is primarily driven by just-in-time procurement, leading spot prices to decline under the pressure of oversupply.
Looking ahead to next week, with logistics and transportation expected to halt before the Chinese New Year, spot market activity may further decrease, and spot prices are expected to remain stable temporarily.
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