Product/Specification Quotation Market/Region Quotation Average Price Change Unit
1# Cobalt Guangdong Southern Storage Spot 410,000-430,000 420,000 0 CNY/ton
1# Cobalt Shanghai Metal Network 417,000-435,000 426,000 -2,000 CNY/ton
Electrolytic Cobalt (99.8%) Shanghai Huatong Spot 416,000-426,000 421,000 0 CNY/ton
Cobalt (250kg/drum, 99.95%) Domestic/Zambia 417,000-425,000 421,000 4,500 CNY/ton
Cobalt Powder (-200 mesh, Domestic) Shanghai Region 560,000-580,000 570,000 0 CNY/ton
Electrolytic Cobalt Shanghai Gold Reserve (Domestic Delivery) 411,000-418,000 418,000 7,000 CNY/ton

On February 4, domestic metal cobalt quotations ranged from 410,000 to 435,000 CNY/ton, showing a fluctuating decline. The cobalt market experienced a downturn, with production, installation, and sales volumes of ternary batteries decreasing both month-on-month and year-on-year, leading to reduced demand for cobalt. The Democratic Republic of Congo (DRC) government's export quota system, along with a 10% mining royalty, has impacted cobalt exports. Cobalt exports from the DRC have resumed, though shipments have not yet arrived at ports. Cobalt miners have retained their export quotas for the DRC in 2025. Additionally, new cobalt production capacity in Indonesia and increased cobalt recycling have partially offset the supply shortage of cobalt raw materials. However, overall cobalt supply remains tight. Rising production costs, stabilizing cobalt salt prices, and steady cobalt lithium prices continue to provide some support to the cobalt market. Internationally, cobalt prices have stabilized weakly, offering limited positive momentum for the domestic cobalt market while reducing negative pressure. Overall, the upward momentum in the cobalt market has weakened, but downward pressure persists.