|
Variety/Specification |
Quote market/region |
Quote: |
average |
change |
unit |
|
1# Cobalt |
Guangdong Nanchu spot |
398,000-418,000 |
408,000 |
2.000 |
RMB/ton |
|
1# Cobalt |
Shanghai Metal Network |
410,000-420,000 |
415,000 |
4.500 |
RMB/ton |
|
Electrolytic Cobalt (99.8%) |
Shanghai Huatong spot |
409,000-418,000 |
413,500 |
1.900 |
RMB/ton |
|
Cobalt (250kg/drum 99.95%) |
Domestic/Zambia |
411,000-417,000 |
413,500 |
7.500 |
RMB/ton |
|
Cobalt powder (-200 mesh, domestic) |
Shanghai area |
495,000-510,000 |
502,500 |
2.500 |
RMB/ton |
|
Electrolytic cobalt |
Shanghai Gold Collection (Domestic Delivery) |
400,000-408,000 |
408,000 |
8.000 |
RMB/ton |
Price trend:
On December 17th, the domestic price of metallic cobalt was quoted at 398,000-420,000 RMB/ton, an increase from previous prices, indicating a rising trend in the cobalt market.
Market Analysis
The production, installation, and sales of ternary batteries were experiencing slow growth, leading to a slow increase in demand for cobalt. The Congolese government had introduced an export quota system, and had temporarily halted operations at Huayou Cobalt's core copper-cobalt mine project. Increased unrest in eastern Congo, along with new regulations requiring cobalt exporters to prepay a 10% mining royalty fee, has resulted in a shortage of cobalt supply. Cobalt miners can retain their 2025 Congolese cobalt export quotas, and cobalt exports from Indonesia and Russia were partially offsetting the supply shortage. Overall, there was a general shortage of cobalt supply. Cobalt salt prices were rising, while lithium cobalt oxide prices remained stable, indicating continued positive sentiment in the cobalt market. Rising international cobalt prices were still positive for the domestic cobalt market, although negative factors were weakening. Overall, the upward momentum in the cobalt market was increasing, but downward pressure still existed.
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