On May 13, domestic quotes for metallic cobalt ranged from 412,000 to 431,000 RMB/ton; prices underwent weak consolidation, and overall market sentiment showed signs of stabilizing at a subdued level. Production, vehicle installation volumes, and sales of ternary batteries all recorded year-on-year and month-on-month increases, though overall demand within the cobalt market remained moderate. The Democratic Republic of the Congo (DRC) has issued new regulations regarding cobalt 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, the execution of allocated quotas by most enterprises has fallen significantly behind schedule. Furthermore, while new production capacity for cobalt products in Indonesia—along with cobalt recycling capabilities—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 bolstering bullish sentiment within the cobalt market. Internationally, cobalt prices are undergoing volatile consolidation; this trend continues to provide support for the domestic market, while bearish pressures have begun to subside. Overall, the cobalt market retains underlying momentum for upward movement, while downward pressures have diminished.

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