On January 9, the price of cobalt powder (-200 mesh, -300 mesh) in the Shanghai spot market increased, with quotations ranging from 530 to 570 yuan/kg and an average price of 550 yuan/kg, up by 5 yuan/kg compared to the previous trading day. PriceSeek's analysis of cobalt indicates a bullish-bearish score of 1. The article shows that the price of cobalt powder in the Shanghai spot market rose by 5 yuan/kg, with the average price reaching 550 yuan/kg, representing an increase of approximately 0.9%. This suggests a tightening of market supply and demand, which may be attributed to stronger downstream demand or short-term supply contraction, providing general positive support for cobalt spot prices.