In February 2026, China's output of electrolytic cobalt was around 260 tonnes, representing a month-on-month decrease of 29.73% and a year-on-year plunge of 95.16%. During February, issues such as high domestic inventory levels of electrolytic cobalt and negative profit margins were expected to remain difficult to improve. Compounded by the impact of fewer working days in this month, the total production experienced a decline.
In March 2026, the national output of electrolytic cobalt is projected to be approximately 295 tonnes, marking an increase of 13.46% MoM but a decrease of 93.42% YoY. While the increase in working days compared to the previous month is expected to have a positive contribution to production, the scope for output recovery remains limited due to the dual constraints of raw material shortages and negative profit margins.
Source: Mysteel
Edited by Cassie Li, lixiangying@mysteel.com
