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Cobalt market: the outer plate cobalt price continues to rise rapidly
**Abstract:**
In the international market, this week saw a very active performance with rising prices. The European market, having just ended its summer break, experienced a surge in demand, which became the main driver of the price increase. Additionally, there remains strong market optimism regarding the growing demand for lithium batteries in Asia, leading to continued price hikes across products.
**International Market**
This week, the international market showed intense activity, with prices rising sharply. The European market, coming out of its summer holiday, saw a significant rebound, driven mainly by increasing demand. Moreover, the market continues to maintain positive expectations for the demand from the Asian lithium battery industry, which has led to sustained price increases.
**Domestic Market**
Metal Cobalt: The overall trend mirrors that of the international market, but the rise is more moderate, around 2,000 yuan per ton. Among the cobalt products, imported cobalt has shown greater trading activity compared to domestic cobalt. Jinchuan Cobalt’s ex-factory price remained stable at approximately 211 yuan/kg this week, while traders’ operating prices ranged between 206–208 yuan/kg.
Chemicals: With the external market continuing to climb, domestic chemical manufacturers are gradually adjusting their pricing strategies. The price of cobalt chloride is currently concentrated between 5.2–5.3 million yuan per ton. However, downstream consumers remain cautious, especially in the lithium battery sector, where many material producers have already locked in orders for August. On the upstream side, cobalt trioxide suppliers reported transaction prices as high as 160 yuan/kg, indicating tight supply conditions. Lithium cobalt oxide prices remain stable, ranging between 178–183 yuan/kg, with cash transactions reaching as low as 175 yuan/kg.
Overall, the external market has seen rapid gains, while the domestic market follows with a more stable trend. Smelters are planning to raise prices in response to the downstream wait-and-see attitude. Although the current price increases and transactions are not yet significant, it is expected that next week will see further consolidation of gains under the influence of the international market.