On December 30, domestic cobalt market prices rose.

Cobalt Species/Specifications Prices Market/Regional Prices Avg. Change Unit 1# Cobalt Guangdong South Storage Spot $438000-$458000 $448000 $8000 per ton 1# Cobalt Shanghai Metal Network $444000-$456000 $450000 $6000 per ton Electrolytic Cobalt (99.8%) Shanghai Huatong Spot $444000-$454000 $449000 $8000 per ton Cobalt (250kg/bucket pack, 99.95% domestic) Zambia Exports $457000-$465000 $461000 $7000 per ton Cobalt Powder (-200 mesh, domestic) Shanghai region $500000-$515000 $507500 $2500 per ton Electrolytic Cobalt Shanghai Jinzang (domestic delivery) $452000-$460000 $460000 $8000 per ton
On December 30th, the domestic metal cobalt prices were quoted at $438000-$465000 per ton, with significant price increases, indicating a substantial rise in the cobalt market demand. The production and shipment volumes of ternary batteries have been slowly growing, as has the demand for cobalt. The government of the Congo introduced an export quota system, urgently halting the operation of Huanyou Copper and Cobalt Mining Project in the Congo. The new regulations require cobalt exporters to pay a 10% mining concession fee in advance, and Luoyang Molybdenum is beginning to sample cobalt exports from the Congo, with the resumption of cobalt exports from the Congo expected in late January. The shortage of supply in the cobalt market has eased, and the cost expectations for the cobalt market are expected to increase. Cobalt miners can retain their 2025 Congo cobalt export quota. Indonesia has added new capacities for cobalt products, compensating for some of the shortfall in cobalt raw material supply, thus overall supply shortages in the cobalt market persist. Cobalt salt prices have risen, and lithium cobaltate prices have also increased, which still benefit the cobalt market outlook. International cobalt prices have stabilized, but there are still benefits for the domestic cobalt market, and negative factors have weakened. Overall, the driving force for the cobalt market's upward trend is significant, while the downward pressure remains.