Product/Specification | Quotation Market/Region | Quotation | Average Price | Change | Unit
1# Cobalt | Guangdong Nanchu Spot | 413,000 - 433,000 | 423,000 | +3,000 | CNY/ton
1# Cobalt | Shanghai Metal Network | 422,000 - 432,000 | 427,000 | +15,000 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 421,000 - 431,000 | 426,000 | +5,000 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 423,000 - 431,000 | 427,000 | +15,500 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 560,000 - 580,000 | 570,000 | 0 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 410,000 - 423,000 | 423,000 | +13,000 | CNY/ton

On February 9, the domestic cobalt metal quotation ranged from 413,000 to 433,000 CNY/ton, showing an increase. The cobalt market is rising, while the production, installation, and sales of ternary batteries have declined both month-on-month and year-on-year, leading to a decrease in cobalt demand. The Democratic Republic of the Congo (DRC) government’s export quota system, along with a 10% mining royalty, has impacted cobalt exports. Cobalt exports from the DRC have resumed, but shipments have not yet arrived at ports. Cobalt miners have reserved export quotas for 2025. Indonesia has added new cobalt production capacity, and cobalt recycling has partially compensated for the supply shortage. However, the overall cobalt supply remains tight. Cobalt production costs have risen, while cobalt salt and lithium cobalt oxide prices have stabilized, providing some support for the cobalt market. International cobalt prices have stabilized, offering some positive momentum for the domestic cobalt market, though downside risks persist. Overall, the upward momentum in the cobalt market has weakened, but downward pressure remains.