Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
:--- | :--- | :--- | :--- | :--- | :---
1# Cobalt | Guangdong Nanchu Spot | 433,000 - 453,000 | 443,000 | 0 | CNY/ton
1# Cobalt | Shanghai Metal Network | 443,000 - 450,000 | 446,500 | +1,500 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 441,000 - 451,000 | 446,000 | 0 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 442,000 - 453,000 | 447,500 | +6,000 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 560,000 - 580,000 | 570,000 | 0 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 438,000 - 443,000 | 443,000 | +5,000 | CNY/ton

On January 29th, domestic metal cobalt quotations ranged from 433,000 to 453,000 CNY/ton. Quotations showed strong consolidation, with market conditions stabilizing robustly. The production, installation, and sales volumes of ternary batteries have declined, leading to an expected decrease in cobalt market demand. The Democratic Republic of the Congo (DRC) government's export quota system, coupled with a 10% mining royalty, along with CMOC's cobalt exports and the resumption of cobalt exports from the DRC, have contributed to market dynamics. Cobalt shipments from the DRC have not yet arrived at ports, and cobalt miners are retaining their 2025 DRC cobalt export quotas. New production capacity for cobalt products in Indonesia, alongside cobalt recycling, partially compensates for supply shortages in cobalt raw materials. However, an overall supply deficit in the cobalt market persists. Rising costs in the cobalt market, stabilizing prices for cobalt salts and lithium cobalt oxide continue to provide favorable support for cobalt market conditions. International cobalt prices are stabilizing, maintaining a positive influence on the domestic cobalt market while negative factors weaken. Overall, the upward momentum in the cobalt market is increasing, though downward pressure remains.