Product/Specification Quotation Market/Region Quotation Average Price Change Unit
1# Cobalt Guangdong South Storage Spot 444,000-464,000 454,000 0 CNY/ton
1# Cobalt Shanghai Metal Network 450,000-459,000 454,500 -3,000 CNY/ton
Electrolytic Cobalt (99.8%) Shanghai Huatong Spot 455,000-464,000 459,500 0 CNY/ton
Cobalt (250kg/drum, 99.95%) Domestic/Zambia 452,000-460,000 456,000 0 CNY/ton
Cobalt Powder (-200 mesh, Domestic) Shanghai Region 540,000-575,000 557,500 0 CNY/ton
Electrolytic Cobalt Shanghai Jincang (Domestic Delivery) 453,000-453,000 453,000 0 CNY/ton
On January 15, domestic metal cobalt prices ranged from 444,000 to 464,000 CNY/ton, showing a weak consolidation. The cobalt market trend remains weak but stabilizing. The production, installation, and sales of ternary batteries are growing slowly, leading to a gradual increase in cobalt demand. The Congolese government has introduced an export quota system, requiring cobalt exporters to prepay a 10% mining royalty. Cobalt exports from Luoyang Molybdenum and the Democratic Republic of the Congo (DRC) have resumed, with Congolese cobalt shipments officially departing from ports. This has alleviated the supply shortage in the cobalt market, although production costs are expected to rise. Cobalt miners have reserved export quotas for 2025 in the DRC, while Indonesia has added new cobalt production capacity. Additionally, cobalt recycling has partially compensated for the shortage of raw materials. Overall, the cobalt market still faces a supply deficit.
The prices of cobalt salts and lithium cobalt oxide have increased, providing some positive support for the cobalt market. However, international cobalt prices are consolidating strongly, reducing the bullish impact on the domestic cobalt market while maintaining some bearish pressure. Overall, the upward momentum in the cobalt market has weakened, but downward pressure persists.
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