|
Variety/Specification |
Quote market/region |
Quote: |
average |
change |
unit |
|
1# Cobalt |
Guangdong Nanchu spot |
420,000-440,000 |
430,000 |
3,000 |
RMB/ton |
|
1# Cobalt |
Shanghai Metal Network |
435,000-445,000 |
440,000 |
0 |
RMB/ton |
|
Electrolytic Cobalt (99.8%) |
Shanghai Huatong spot |
431,000-439,000 |
435,000 |
3000 |
RMB/ton |
|
Cobalt (250kg/drum 99.95%) |
Domestic/Zambia |
434,000-441,000 |
437,500 |
5,500 |
RMB/ton |
|
Cobalt powder (-200 mesh, domestic) |
Shanghai area |
560,000-580,000 |
570,000 |
0 |
RMB/ton |
|
Electrolytic cobalt |
Shanghai Gold Collection (Domestic Delivery) |
430,000-435,000 |
435,000 |
5,000 |
RMB/ton |
Price trend
On February 25, the domestic price of cobalt metal was 420,000-445,000 RMB/ton, an increase in price and a rise in the cobalt market.
Market analysis
The production and sales volume of ternary lithium batteries declined year-on-year and month-on-month, leading to a decrease in cobalt demand. The export quota system of the Democratic Republic of Congo (DRC), coupled with a 10% mining royalties, has impacted cobalt exports from Luoyang Molybdenum and the DRC. While DRC cobalt exports have resumed, some have not yet arrived at ports. Cobalt miners are retaining their 2025 DRC cobalt export quotas. New cobalt production capacity in Indonesia, along with cobalt recycling, was partially offsetting the supply shortage of cobalt raw materials, but the overall cobalt market remained in short supply. Rising cobalt costs and stabilizing cobalt salt and lithium cobalt oxide prices continued to be favorable for the cobalt market. Stabilizing international cobalt prices also contributed to the domestic cobalt market, while negative factors were weakening. Overall, the upward momentum in the cobalt market was weakening, while downward pressure remained.
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