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 Market | 407,000-417,000 | 412,000 | -11,500 | 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 | 408,000-415,000 | 411,500 | -4,000 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 560,000-580,000 | 570,000 | 0 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 411,000-410,000 | 410,000 | -1,000 | CNY/ton

On February 6, the domestic metal cobalt quotation ranged from 407,000 to 430,000 CNY/ton, indicating a decline in cobalt prices. The cobalt market experienced a downturn, driven by a year-on-year and month-on-month decrease in the production, installation, and sales of ternary batteries, 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 Luoyang Molybdenum resumed cobalt exports from the DRC, shipments have not yet arrived at ports. Cobalt miners are retaining their 2025 export quotas for DRC cobalt. Additionally, new production capacity for cobalt products in Indonesia, coupled with cobalt recycling, has partially offset supply shortages. However, overall cobalt supply remains tight. Rising production costs, stabilizing prices of cobalt salts and lithium cobalt oxide continue to provide some support to the cobalt market. International cobalt prices have stabilized, offering some positive momentum to the domestic market while reducing downward pressure. Overall, the upward momentum in the cobalt market has weakened, but downward risks persist.