en.Wedoany.com Reported - The cobalt market remained largely stable this week, with only electrolytic cobalt and cobalt sulfate prices continuing to edge downward. Raw cobalt intermediate products performed strongly, as suppliers held a firm stance on pricing and spot supplies tightened. Electrolytic cobalt prices fell to 408,000–418,000 RMB/ton, with an average of 413,000 RMB/ton. Downstream demand from the alloy and magnetic materials sectors remained sluggish, but prices are expected to oscillate on cost support.
Cobalt sulfate prices dropped to 93,700–96,400 RMB/ton, with an average of 95,050 RMB/ton, a decline of 0.32%, influenced by low-priced supply and weak demand, which may keep the market subdued in the short term pending a rebound. Cobalt chloride and cobalt tetraoxide prices held steady at 114,500–116,200 RMB/ton and 360,000–367,000 RMB/ton, respectively, with cautious trading activity. Cobalt intermediate products imported into China were quoted at 26–26.25 USD/lb. Shipments from the Democratic Republic of the Congo (DRC) have been delayed due to tight shipping capacity, giving further upward momentum to subsequent prices.
In a meeting organized by SMM, analyst Xiao Wenhao pointed out that the DRC's export ban has led to continuous destocking in the Chinese cobalt market, sharply raising cobalt prices. Notably, cobalt intermediate product prices have surged by 349.57% compared to February 2025. He analyzed supply-demand balances under two scenarios: in a pessimistic scenario, China would face a sustained cobalt supply shortage from 2025 to 2028; in a neutral scenario, supply would be nearly balanced in 2026 followed by a gradual small surplus. Overall, short-term cobalt prices are influenced by the tug of war between supply and demand, with most grades stable and a few marginally declining. The turning point awaits a recovery in demand.
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