In March 2026, the output of China's electrolytic cobalt reached approximately 410 tonnes, representing a month-on-month increase of 57.69% and a year-on-year decrease of 90.85%. The increase in working days in March compared to the previous month made a positive contribution to production. However, under the dual constraints of raw material shortages and negative profit margins, the room for production recovery remained limited.
In April 2026, China's electrolytic cobalt production is expected to be approximately 370 tonnes, down 9.76% month-on-month and 89.82% year-on-year. In April, under the combined effects of multiple factors, including narrowing profit margins, weak downstream demand, short-term supply disruptions, and weakening cost support, the production is expected to decline modestly.
Edited by Cassie Li, lixiangying@mysteel.com
