Product/Specification Quotation Market/Region Quotation Average Price Change Unit
1# Cobalt Guangdong South Storage Spot 441000-461000 451000 -3000 CNY/ton
1# Cobalt Shanghai Metal Network 453000-462000 457500 3000 CNY/ton
Electrolytic Cobalt (99.8%) Shanghai Huatong Spot 450000-460000 455000 -3500 CNY/ton
Cobalt (250kg/drum, 99.95%) Domestic/Zambia 447000-454000 450500 -5500 CNY/ton
Cobalt Powder (-200 mesh, Domestic) Shanghai Region 542000-580000 561000 3500 CNY/ton
Electrolytic Cobalt Shanghai Jincang (Domestic Delivery) 453000-450000 450000 -3000 CNY/ton

On January 16, the domestic metal cobalt quotation ranged from 441,000 to 462,000 CNY/ton, showing a weak decline. The cobalt market is in a weak consolidation phase. The production, installation, and sales 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 10% of mining royalties. Cobalt exports from China Molybdenum have resumed, and Congolese cobalt shipments 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 Democratic Republic of Congo, and Indonesia has added new cobalt production capacity. Additionally, cobalt recycling has partially compensated for the shortage of cobalt raw materials, though overall supply remains tight. The rise in cobalt salt and lithium cobalt oxide prices continues to support the cobalt market. Internationally, cobalt prices are consolidating strongly, but the positive impact on the domestic cobalt market has weakened, with bearish factors still present. Overall, the upward momentum in the cobalt market has diminished, while downward pressure persists.