On February 10th, the domestic cobalt market experienced fluctuating and consolidating conditions.

On February 10th, the domestic cobalt metal quotation ranged from 413,000 to 433,000 CNY/ton, showing an increase. The cobalt market experienced an upward trend. However, the production, installation volume, and sales of ternary batteries declined both month-on-month and year-on-year, leading to a decrease in cobalt market demand. Factors such as the export quota system implemented by the Congolese government, along with a 10% mining royalty, the cobalt exports from China Molybdenum, the resumption of cobalt exports from the Democratic Republic of the Congo (DRC), the delayed arrival of Congolese cobalt shipments, cobalt miners reserving their 2025 DRC export quotas, new cobalt production capacity in Indonesia, and cobalt recycling have partially compensated for the supply shortage of cobalt raw materials. Nonetheless, an overall supply deficit in the cobalt market persists. Rising cobalt production costs, stabilizing cobalt salt prices, and steady cobalt lithium prices continue to provide some support for the cobalt market. Internationally, cobalt prices have stabilized, which maintains a positive influence on the domestic cobalt market while reducing negative pressure. Overall, the upward momentum in the cobalt market has weakened, but downward pressure still exists.