In May 2026, China's cobalt sulfate production reached 15,140 tonnes, up 7.16% month-on-month but down 6.64% year-on-year. In May, downstream demand for cobalt sulfate continued to be weak. Smelters' operating rates remained at historically low levels. Some smelters purchased recycled materials for tolling processing, while most smelters kept production capacity flat compared to April. As a result, cobalt sulfate production saw a modest and stable increase in May.
In June 2026, China's cobalt sulfate production is expected to reach 15,330 tonnes, up 1.25% MoM but down 4.46% YoY. In June, no significant improvement in downstream demand for cobalt sulfate is anticipated. Raw material cobalt intermediates will likely remain in tight supply, and smelters are expected to continue operating steadily at low utilization rates. Although production schedules for ternary precursor and lithium cobalt oxide (LCO) cathode makers have shown restorative growth, it will take time for this recovery to transmit to the cobalt sulfate segment. Therefore, cobalt sulfate production in June is expected to remain broadly stable.
Edited by Cassie Li, lixiangying@mysteel.com
