SunSirs: Summary of Domestic Cobalt Market Trends on March 6th
March 07 2025 10:28:56 SunSirs (John)
Price trend
On March 6th, the domestic price of cobalt metal was 181,000-218,000 RMB/ton, with weak prices stabilizing and the cobalt market stabilizing.
Analysis review
The production and sales of ternary batteries have grown slowly, while the demand for cobalt in the market remained stable; The export of cobalt in the Democratic Republic of Congo has been banned, leading to a decrease in the supply of cobalt raw materials. The government of the Democratic Republic of Congo planned to introduce a cobalt export quota system, resulting in a tight supply in the cobalt market; The tight supply of cobalt salts has led to an increase in cobalt salt prices and lithium cobalt oxide prices, which was highly favorable for the cobalt market; The international cobalt price has fluctuated and risen, which had a significant positive impact on the domestic cobalt market; The overall upward momentum of the cobalt market still existed, and the downward pressure has weakened.
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