Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
:--- | :--- | :--- | :--- | :--- | :---
1# Cobalt | Guangdong Nanchu Spot | 433,000 - 453,000 | 443,000 | 0 | CNY/ton
1# Cobalt | Shanghai Metal Market | 442,000 - 452,000 | 447,000 | +500 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 441,000 - 451,000 | 446,000 | 0 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 439,000 - 450,000 | 444,500 | -3,000 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 560,000 - 580,000 | 570,000 | 0 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 443,000 - 440,000 | 440,000 | -3,000 | CNY/ton

On January 30th, domestic metal cobalt quotations ranged from 433,000 to 453,000 CNY/ton. Prices showed consolidation with a stabilizing market trend. Demand for cobalt declined due to simultaneous month-on-month and year-on-year decreases in the production, installation, and sales volumes of ternary batteries. The Congolese government's export quota system, coupled with a 10% mining royalty, along with cobalt exports from CMOC and the resumption of exports from the Democratic Republic of the Congo (DRC), have contributed to the market dynamics. However, Congolese cobalt shipments have not yet arrived at ports. Cobalt miners are reserving their 2025 DRC export quotas. New production capacity for cobalt products in Indonesia, alongside cobalt recycling, partially offsets some supply shortages of cobalt raw materials. Nevertheless, an overall supply deficit in the cobalt market persists. Rising production costs, stabilizing cobalt salt prices, and steady lithium cobalt oxide prices continue to provide support for the cobalt market. International cobalt prices have stabilized, which maintains a positive influence on the domestic market while reducing negative pressure. Overall, the cobalt market exhibits significant upward potential, though downward pressure remains.