Product/Specification | Market/Region | Quote | Average Price | Change | Unit
---|---|---|---|---|---
1# Cobalt | Guangdong Nanchu Spot | 447,000-467,000 | 457,000 | 0 | CNY/ton
1# Cobalt | Shanghai Metal Network | 454,000-464,000 | 459,000 | -5,000 | 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 | 458,000-464,000 | 461,000 | -2,500 | CNY/ton
Cobalt Powder (-200 mesh, Domestic) | Shanghai Region | 530,000-560,000 | 545,000 | 10,000 | CNY/ton
Electrolytic Cobalt | Shanghai Jincang (Domestic Delivery) | 462,000-460,000 | 460,000 | -2,000 | CNY/ton

On January 8, domestic metal cobalt prices were quoted at 447,000-466,000 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 Democratic Republic of Congo (DRC) government has introduced an export quota system, requiring cobalt exporters to prepay a 10% mining royalty. Cobalt exports from companies like Luoyang Molybdenum have resumed, and shipments from the DRC have officially set sail, alleviating supply shortages in the cobalt market. However, cobalt production costs are expected to rise. Cobalt miners can retain their 2025 export quotas for DRC cobalt. New production capacity for cobalt products in Indonesia, along with cobalt recycling, partially offsets the supply shortage of cobalt raw materials, though overall supply remains tight. Rising prices of cobalt salts and lithium cobalt oxide continue to support 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 cobalt market faces increased upward momentum but still retains downward pressure.