On January 7, the spot price of cobalt powder (-200 mesh, -300 mesh) in the Shanghai market rose, with quotations ranging from 520 to 550 yuan/kg and an average price of 535 yuan/kg, representing an increase of 15 yuan/kg compared to the previous trading day. PriceSeek's analysis of cobalt indicates a bullish-bearish score of 1.5. The spot price of cobalt powder increased by 15 yuan/kg from the previous trading day, a rise of approximately 2.8%, with quotations ranging from 520 to 550 yuan/kg and an average price of 535 yuan/kg. This reflects tight market supply or increased demand, providing significant positive support for cobalt prices. This upward trend may stem from a recovery in demand from downstream industries such as new energy or alloys, which is expected to boost trading activity in the spot market in the short term.