In March 2026, cobalt powder production reached 815 tonnes, up 20.56% month-on-month and 3.56% year-on-year. The increase in working days, post-holiday production resumption leading to supply-side recovery, and cost improvements all contributed to the rise. Although overall end-user demand remained lackluster, structural support from the high-end manufacturing sector helped drive the rebound in production.
In April 2026, cobalt powder production is expected to be 705 tonnes, down 13.5% MoM and 13.5% YoY. Market sentiment in April is generally cautious, with producers largely awaiting demand for pre-holiday (Labor Day) inventory building while also waiting for further clarity on cobalt raw material arrival schedules. The willingness to proactively expand production remains weak.
Edited by Cassie Li, lixiangying@mysteel.com
