Product/Specification | Market/Region | Quotation | Average Price | Change | Unit
1# Cobalt | Southern Storage Spot (Guangdong) | 447,000 - 467,000 | 457,000 | 0 | CNY/ton
1# Cobalt | Shanghai Metal Market | 461,000 - 467,000 | 464,000 | -3,000 | CNY/ton
Electrolytic Cobalt (99.8%) | Shanghai Huatong Spot | 456,000 - 466,000 | 461,000 | 0 | CNY/ton
Cobalt (250kg/drum, 99.95%) | Domestic/Zambia | 460,000 - 467,000 | 463,500 | 0 | 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 7, domestic cobalt metal quotations ranged from 447,000 to 467,000 CNY/ton, showing weak consolidation. The cobalt market is in a consolidation phase, with slow growth in the production, installation, and sales of ternary batteries, leading to a gradual increase in cobalt demand. The Democratic Republic of Congo (DRC) government has introduced an export quota system, and the DRC has urgently suspended the operations of a core copper-cobalt mining project by Huayou Cobalt. New regulations in the DRC require cobalt exporters to prepay 10% of mining royalties. Cobalt exports from China Molybdenum have resumed, with formal shipments expected to commence in late January, alleviating the supply shortage in the cobalt market. However, cobalt production costs are expected to rise. Cobalt miners may retain their 2025 cobalt export quotas from the DRC. Indonesia has added new cobalt production capacity, and cobalt recycling partially compensates for the shortage of raw materials. Overall, the cobalt market remains in a supply deficit.

The prices of cobalt salts and lithium cobalt oxide have risen, providing continued support to the cobalt market. International cobalt prices have shown strong gains, increasing positive factors and reducing negative pressures on the domestic cobalt market. Overall, the cobalt market is experiencing stronger upward momentum with reduced downward pressure.