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Cobalt: There is no substantial positive in the CDI annual meeting, and the cobalt price is temporarily stable.
Abstract: The price of cobalt in the outer market has remained stable amid recent volatility. Currently, high-grade cobalt is reported at $12.9–$14.1 per pound, while low-grade cobalt is priced between $12.5–$13.8 per pound. Last week, the CDI Annual Meeting took place in Shanghai, shifting market attention toward conference updates and leading to a slowdown in trading activity. Domestic players continue to follow an on-demand purchasing strategy, with limited transaction volumes due to cooling terminal demand.
The CDI Cobalt Industry Conference did not deliver any major surprises or new developments, and industry participants remain cautious about the future direction of cobalt prices over the next 12–24 months. There is little optimism, and sentiment remains weak as the market awaits clearer signals.
Meanwhile, the Congolese Minister of Mines reiterated that the export ban on copper-cobalt concentrates will be strictly enforced. However, there are growing rumors suggesting that higher taxes might replace the export restrictions. Until the actual policy is implemented, market uncertainty persists, and traders are hesitant to make long-term commitments.
In summary, the current cobalt market lacks significant positive drivers, and short-term procurement activities have slowed down. Although raw material prices remain strong, adjustments in cobalt salts and related compounds are minimal, reflecting tight margins and limited upside potential. Investors and traders are closely watching for any signs of recovery or regulatory changes that could reshape the market outlook.
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