Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
---|---|---|---|---|---
1# Cobalt | Guangdong Nanchu Spot | 444,000-464,000 | 454,000 | -2,000 | CNY/ton
1# Cobalt | Shanghai Metal Network | 453,000-462,000 | 457,500 | -3,000 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 455,000-464,000 | 459,500 | -1,500 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 452,000-460,000 | 456,000 | 0 | CNY/ton
Cobalt Powder (-200 mesh, domestic) | Shanghai Region | 540,000-575,000 | 557,500 | 2,500 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 453,000-453,000 | 453,000 | 0 | CNY/ton

On January 14, domestic cobalt metal quotations ranged from 444,000 to 464,000 CNY/ton, showing a weak consolidation. The cobalt market is experiencing a sluggish adjustment, with slow growth in the production, installation, and sales of ternary batteries, leading to a gradual increase in cobalt demand. The Congolese government has introduced an export quota system, requiring cobalt exporters to prepay 10% of mining royalties. Cobalt exports from Luoyang Molybdenum have resumed, and cobalt shipments from the Democratic Republic of Congo (DRC) have officially set sail, 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, and Indonesia has added new cobalt production capacity. Additionally, cobalt recycling has partially compensated for the shortage of raw materials. Overall, the cobalt market still faces a supply shortage. The rise in cobalt salt and lithium cobalt oxide prices continues to support the cobalt market. International cobalt prices remain strong but have weakened their positive impact on the domestic market. In summary, the upward momentum in the cobalt market has diminished, but downward pressure persists.