Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
--- | --- | --- | --- | --- | ---
1# Cobalt | Guangdong Nanchu Spot | 410,000 - 430,000 | 420,000 | 0 | CNY/ton
1# Cobalt | Shanghai Metal Network | 414,000 - 433,000 | 423,500 | -2,500 | 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 | 412,000 - 419,000 | 416,500 | -5,500 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 560,000 - 580,000 | 570,000 | 0 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 418,000 - 411,000 | 411,000 | -7,000 | CNY/ton

On February 5, domestic metal cobalt quotations ranged from 410,000 to 433,000 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 the Congo (DRC) government's export quota system, along with a 10% mining royalty, has impacted cobalt exports. While CMOC's cobalt exports and DRC's cobalt exports have resumed, cobalt shipments from the DRC have not yet arrived at ports. Cobalt miners have retained their export quotas for 2025 in the DRC. Additionally, new production capacity for cobalt products in Indonesia, coupled with cobalt recycling, has partially offset the supply shortage of cobalt raw materials. However, the overall supply shortage in the cobalt market persists. Rising costs in the cobalt market, stabilized cobalt salt prices, and steady lithium cobalt oxide prices continue to provide some support for the cobalt market. International cobalt prices have stabilized, offering some positive momentum for the domestic cobalt market while reducing negative pressure. Overall, the upward momentum in the cobalt market has weakened, but downward pressure remains.