| Product/Specification | Market/Region | Quotation | Average Price | Change | Unit |
|---|---|---|---|---|---|
| 1# Cobalt | Guangdong Nanchu Spot | 446,000 - 466,000 | 456,000 | -1,000 | CNY/ton |
| 1# Cobalt | Shanghai Metal Net | 456,000 - 465,000 | 460,500 | -2,000 | CNY/ton |
| Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 456,000 - 466,000 | 461,000 | 0 | CNY/ton |
| Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 452,000 - 460,000 | 456,000 | -4,000 | CNY/ton |
| Cobalt Powder (-200 mesh, Domestic) | Shanghai Area | 540,000 - 570,000 | 555,000 | 0 | CNY/ton |
| Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 457,000 - 453,000 | 453,000 | -4,000 | CNY/ton |
On January 13, the domestic metal cobalt quotation ranged from 446,000 to 466,000 CNY/ton, showing a weak consolidation. The cobalt market is experiencing fluctuating consolidation. The production, installation, and sales volume of ternary batteries are growing slowly, leading to a gradual increase in cobalt demand. The Democratic Republic of the Congo (DRC) government has introduced an export quota system, requiring cobalt exporters to prepay a 10% mining royalty. Cobalt exports from CMOC have resumed, and cobalt shipments from the DRC have officially set sail, alleviating the shortage of cobalt supply in the market. However, cobalt production costs are expected to rise. Cobalt miners have reserved export quotas for 2025 in the DRC, and Indonesia has added new cobalt production capacity. Additionally, cobalt recycling partially compensates for the shortage of cobalt raw materials, but overall, the cobalt market still faces a supply shortage. The prices of cobalt salts and lithium cobalt oxide have increased, which remains favorable for the cobalt market. International cobalt prices have stabilized strongly, but their positive impact on the domestic cobalt market has weakened, with negative factors still present. Overall, the upward momentum in the cobalt market has weakened, but downward pressure persists.
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