China Cobalt Market Price & Cost Review Weekly 0818

The supply in the cobalt intermediates market was becoming increasingly tight, with remaining raw material sources relatively concentrated. Miners continued to hold back stocks and resist selling, driving sustained price increases. A small number of transactions were concluded above $13/lb during last week, and industry participants remained strongly bullish on future price hikes.At present, downstream demand for cobalt intermediates has been mainly concentrated in mid- to large-scale smelters and manufacturers are actively inquiring. However, market transactions remained limited due to high prices, with purchases primarily driven by on-rigid demand.Given the growing scarcity of raw materials, cobalt prices are expected to maintain upward momentum in the future. However, constrained by weak demand, the pace and magnitude of price increases are likely to remain relatively modest in the short term.