This week, the spot price of refined cobalt maintained a fluctuating trend. On the supply side, due to the low economic efficiency of refined cobalt production, the operating rate of smelters remained low, leading to a slight decrease in the supply of refined cobalt. On the demand side, influenced by the policy-related news from the DRC, some smelters and traders reported an increased willingness of downstream producers to inquire about prices. However, currently, most buyers and sellers are still in the negotiation stage, and overall market transactions remain sluggish. The DRC’s policy is expected to be officially announced by the end of this week. It is anticipated that the spot price may undergo significant changes after the policy is implemented.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lv 021-20707875
Wenhao Xiao 021-51666872
Zhicheng Zhou 021-51666711
(Source)