In March, China's cobalt sulfate production was 23,341 tonnes, an increase of 28.70% MoM and 2.76% YoY respectively. The impact of the DRC's export ban in March was heating up. The production pace on the supply side has accelerated, and the price of cobalt sulfate has risen, turning losses into profits. Meanwhile, some companies that had previously undergone equipment maintenance or production shutdowns have resumed work, and some top-tier ones have increased their operating rates to seize market share. As a result, the supply of cobalt sulfate has increased in March.
China's cobalt sulfate production is expected to be 23,000 tonnes in April, dropped 1.46% MoM and 15.45% YoY. The decrease in April is mainly due to the rapid growth rate of cobalt sulfate prices, which have been at a high level for a long time. Downstream users have limited acceptance of current prices, and there is less procurement, mainly consuming previous inventory. The cumulative inventory of smelters and the tight supply of raw materials are expected to lead to a decrease in cobalt sulfate production in April.
Source: Mysteel
Edited by Cassie Li, lixiangying@mysteel.com
