| Product/Specification | Quotation Market/Region | Average Price | Change | Unit |
|---|---|---|---|---|
| 1# Cobalt | Guangdong Nanchu Spot | 447,000 - 467,000 | 457,000 | 0 |
| 1# Cobalt | Shanghai Metal Network | 458,000 - 467,000 | 462,500 | +6,000 |
| Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 456,000 - 466,000 | 461,000 | 0 |
| Cobalt (250kg/drum, 99.95%) | Domestic/Zambian | 456,000 - 464,000 | 460,000 | +2,000 |
| Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 540,000 - 570,000 | 555,000 | +5,000 |
| Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 455,000 - 457,000 | 457,000 | +2,000 |
On January 12, domestic metal cobalt quotations ranged from 447,000 to 467,000 CNY/ton, showing a fluctuating upward trend. The cobalt market is experiencing strong consolidation. The production, installation, and sales volumes of ternary batteries are growing slowly, leading to a gradual increase in cobalt demand. The Congolese government has introduced an export quota system, requiring cobalt exporters to prepay a 10% mining royalty. Cobalt exports from CMOC have resumed, and cobalt shipments from the Democratic Republic of the Congo (DRC) have officially resumed, alleviating the supply shortage in the cobalt market. However, cobalt production costs are expected to rise. Cobalt miners have reserved export quotas for 2025 in the DRC. New cobalt production capacity in Indonesia, along with cobalt recycling, partially compensates for the supply shortage. Overall, the cobalt market continues to face a supply deficit. The rise in cobalt salt and lithium cobalt oxide prices remains favorable for the cobalt market. The strong increase in international cobalt prices has amplified positive factors and reduced negative impacts on the domestic cobalt market. Overall, the upward momentum in the cobalt market has strengthened, though downward pressure persists.
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