On May 11, domestic quotes for metallic cobalt ranged from 412,000 to 432,000 RMB/ton; prices rose, signaling a warming trend in the cobalt market. Production, vehicle installation volume, and sales of ternary batteries all increased on both a year-on-year and month-on-month basis, though overall demand in the cobalt market remained moderate. The Democratic Republic of the Congo (DRC) issued new regulations controlling cobalt ore export quotas; however, the new quota system has imposed multiple restrictions on operational and logistical processes, resulting in sluggish approval rates for DRC cobalt exports. Consequently, most enterprises are experiencing significant delays in executing their allocated quotas. Furthermore, while new production capacity for cobalt products in Indonesia—along with cobalt recycling capacity—has helped to partially alleviate the shortage of raw cobalt materials, the overall supply of cobalt is expected to see only a modest short-term increase. Prices for cobalt salts are undergoing weak consolidation, while prices for lithium cobalt oxide have stabilized. Indonesia has systematically incorporated associated elements—such as cobalt, iron, and chromium—found in nickel ore into its pricing mechanism; this has led to increased cobalt production costs, thereby providing stronger bullish support for the cobalt market. International cobalt prices are currently undergoing volatile consolidation; this trend continues to offer bullish support to the domestic market, while bearish pressures have begun to subside. Overall, the cobalt market retains upward momentum, while downward pressure has diminished.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.