In September 2025, China's cobalt sulfate production reached 14,074 tonnes, up 12.83% month-on-month but down 28.67% year-on-year. During this period, production of downstream ternary precursors increased, leading to higher demand for cobalt from the ternary sector. Additionally, some factories that had previously halted production for maintenance resumed operations, contributing to the month-on-month growth in cobalt sulfate output.
In October, China's cobalt sulfate production is projected to be 13,917 tonnes, reflecting a slight decrease of 1.12% MoM and a decline of 28.90% YoY. The cobalt sulfate market in October exhibited a mixed supply-demand dynamic. While demand from the ternary sector provided some support for cobalt salts, the electrolytic cobalt segment faced significant challenges, including persistently high inventory levels and profit margins in negative territory, prompting smelters to continue production cuts. This resulted in a notable contraction in demand for cobalt salts. Furthermore, production line maintenance plans at some plants are expected to lead to a month-on-month contraction in output. Overall, cobalt sulfate production in October is anticipated to remain largely stable, with only a minor decline.
Edited by Cassie Li, lixiangying@mysteel.com
