In April 2026, China's electrolytic cobalt production reached approximately 395 tonnes, representing a month-on-month decrease of 3.66% and a year-on-year decrease of 89.24%. In April, daily output remained largely stable overall. However, under the dual constraints of raw material shortages and negative profit margins, the room for output recovery was limited, with most producers still remaining in a state of suspended production.
In May 2026, China's electrolytic cobalt production is expected to reach approximately 400 tonnes, representing a sequential increase of 1.27% but a year-on-year decrease of 87.22%. In May, although some signs of downstream recovery have emerged, procurement by ternary precursor and cathode materials plants remains largely on rigid-based, with limited capacity to absorb high-priced electrolytic cobalt. Lacking sufficient orders to support a significant production ramp-up, output is expected to remain largely unchanged.
Source: Mysteel
Edited by Cassie Li, lixiangying@mysteel.com
