Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
--- | --- | --- | --- | --- | ---
1# Cobalt | Guangdong Nanchu Spot | 447,000-467,000 | 457,000 | +2,000 | CNY/ton
1# Cobalt | Shanghai Metal Network | 464,000-470,000 | 467,000 | +6,000 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 456,000-466,000 | 461,000 | +3,000 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 460,000-467,000 | 463,500 | +2,000 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 510,000-530,000 | 520,000 | +10,000 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 460,000-462,000 | 462,000 | +2,000 | CNY/ton

On January 6, domestic metal cobalt quotations ranged from 447,000 to 470,000 CNY/ton, showing a fluctuating upward trend. The cobalt market is experiencing an upward trajectory, driven by slow growth in the production, installation, and sales of ternary batteries, leading to a gradual increase in cobalt demand. The government of the Democratic Republic of the Congo (DRC) has introduced an export quota system, and the DRC has urgently suspended operations at Huayou Cobalt's core copper-cobalt mining project. New regulations in the DRC require cobalt exporters to prepay 10% of mining royalties. Cobalt exports from China Molybdenum are progressing slowly, with formal shipments expected to resume by late January. The supply shortage in the cobalt market is gradually easing, while production costs are anticipated to rise. Cobalt miners may retain their 2025 cobalt export quotas for the DRC. New production capacity for cobalt products in Indonesia, along with cobalt recycling, is partially offsetting the supply shortage of cobalt raw materials. Overall, the cobalt market continues to face a supply deficit. Rising prices of cobalt salts and lithium cobalt oxide remain favorable for the cobalt market. The strong upward trend in international cobalt prices has increased bullish factors and reduced bearish pressures in the domestic cobalt market. Overall, the cobalt market is experiencing stronger upward momentum and reduced downward pressure.