In November 2025, China's cobalt sulfate production reached 17,700 tons, marking a month-on-month increase of 11.86% but a year-on-year decrease of 5.64%. The main reasons for the month-on-month growth in cobalt sulfate production in November can be attributed to two factors. First, changes in the raw material structure of smelters' production processes, with increased output resulting from the dissolution of electrolytic cobalt and recovery processes. Second, the resumption of operations by some producers that had previously suspended production for maintenance. Consequently, cobalt sulfate production saw an increase in November.
In December, China's cobalt sulfate production is projected to be 17,072 tonnes, reflecting a month-on-month decrease of 3.55% and a year-on-year decline of 14.69%. In December, downstream demand for cobalt sulfate is expected to contract slightly. As the supply of cobalt intermediates remains tight, smelters' inventories of cobalt intermediates are gradually being depleted and are difficult to replenish effectively. Additionally, the output growth from electrolytic cobalt dissolution and recovery processes is unlikely to see significant short-term expansion. Therefore, based on production schedules, it is anticipated that smelters may gradually reduce output during the off-season.
Edited by Cassie Li, lixiangying@mysteel.com
