China's cobalt chloride production was up 19,952 tonnes, with a month-on-month increase of 1.28% and a year-on-year rising of 39.01% in December. Meanwhile, the whole year's production totaled 245,122 tonnes, rising 61.7% compared to 2023. In December, the cobalt chloride prices were close to the cost, with only a little profits. In addition, downstream demand was increasing due to the approach Chinese New Year, leading to a slight increase in the output in December. However, most enterprises focused on stable production, thus the production of cobalt chloride in December increased slightly, which was approximately the same as the previous month.
China's cobalt chloride may be down 4.77% MoM to 19,000 tonnes. As the holiday approaches, downstream demand is released in advance, and there is insufficient momentum for the continued increase in demand for cobalt chloride. At the same time, in terms of downstream demand, cobalt sulfate will also replace a portion of the amount of cobalt chloride. It is speculated that the production of cobalt chloride will decrease to a certain extent in January.
Edited by Cassie Li, lixiangying@mysteel.com
