In May 2026, China's electrolytic cobalt production reached 400 tonnes, up 1.27% month-on-month but down 87.22% year-on-year. Although there were signs of downstream recovery during the month, procurement by ternary precursor and cathode material plants remained primarily on rigid-demand, with limited capacity to absorb high-priced electrolytic cobalt. The lack of sufficient orders to support a significant production ramp-up resulted in little change in output.
In June 2026, China's electrolytic cobalt production is expected to remain at approximately 400 tonnes, flat month-on-month and down 87.22% year-on-year. The dual pressures of raw material shortages and weak demand remain unresolved in June, and the market is expected to continue primarily consuming hidden inventories.
Edited by Cassie Li, lixiangying@mysteel.com
