Monthly Cobalt Market Report Jan 2026

Contents

2.1 1 Market Highlights 3
3. Economy and Policy 3
3.1 3 Market Movements 3
3.1 Market Movements in China 3
3.1.1 CIF China prices for cobalt intermediate 30-40% 3
3.1.Asian Metal Copyright2 China's cobalt intermediate products import volume fell 96.Asian Metal Copyright2 Delivered prices for cobalt metal 99.8%min 3
3.1.Asian Metal Copyright6.Asian Metal Copyright3 Delivered prices for cobalt powder 99.5%min 3
3.1.4 Delivered prices for cobalt carbonate 46%min 4
3.1.Asian Metal Copyright2.Asian Metal Copyright5 Delivered prices for cobalt sulfate 20.5%min 4
3.1.6 Delivered prices for cobalt chloride 24%min 4
3.1.Asian Metal Copyright3 Chinese cobalt sulfate producers' sales volume in January 2025 down by 10.Asian Metal Copyright7 Delivered prices for cobalt tetroxide 73.5%min 4
3.1.8 Delivered prices for cobalt oxide 72%min 4
3.1.9 Delivered prices for NCM precursor 523 4
3.1.10 Delivered prices for NCM precursor 613 5
3.1.11 Delivered prices for NCM precursor 8312 5
3.1.12 Delivered prices for LCO Co 60%min 5
3.1.13 Delivered prices for LNCMO 523 5
3.1.14 Delivered prices for LNCMO 613 5
3.1.15 Delivered prices for LNCMO 8312 5
3.2 Intentional Market Movements 6
3.2.Asian Metal Copyright8%min prices in warehouse Baltimore 6 4.Asian Metal Copyright1 Cobalt metal 99.8%min prices in warehouse Rotterdam 6
3.2.Asian Metal Copyright11 Delivered prices for NCM precursor 8312 5 3.Asian Metal Copyright3 Cobalt metal 99.8%min prices in warehouse Baltimore 6
4. Company News 6
5. Producers Metrics 6
5.1 Cobalt metal 6
5.1.Asian Metal Copyright3.Asian Metal Copyright1 Chinese cobalt metal producers' operating rate in January 2025 up by 45.5% MoM 6
5.1.Asian Metal Copyright1 1 Market Highlights 3 3.Asian Metal Copyright2 China's cobalt metal output in January 2025 up by 45.5% MoM 6
5.1.Asian Metal Copyright6 Delivered prices for cobalt chloride 24%min 4 3.Asian Metal Copyright3 Chinese cobalt metal producers' inventory in January 2025 down by 45.5% MoM 7
5.2 Cobalt powder 7
5.2.Asian Metal Copyright3% MoM 10 5.Asian Metal Copyright1 Chinese cobalt powder producers' operating rate in January 2025 up by 28.1% MoM 7
5.2.Asian Metal Copyright4% MOM 13 5.Asian Metal Copyright2 China's cobalt powder output in January 2025 edged up by 3.4% MoM 7
5.2.Asian Metal Copyright8 Delivered prices for cobalt oxide 72%min 4 3.Asian Metal Copyright3 Chinese cobalt powder producers' inventories in January 2025 increased by 10.6% MoM 7
5.2.Asian Metal Copyright7 Delivered prices for cobalt tetroxide 73.Asian Metal Copyright4 Chinese cobalt powder producers' sales volume in January 2025 decreased by 0.3% MoM 8
5.3 Cobalt sulfate 8
5.3.Asian Metal Copyright5.Asian Metal Copyright1 Chinese cobalt sulfate producers' operating rate in January 2025 down by 9.5% MoM 8
5.3.Asian Metal Copyright8%min 3 3.Asian Metal Copyright2 China's cobalt sulfate output in January 2025 down by 9.5% MoM 8
5.3.3 Chinese cobalt sulfate producers' inventories in January 2025 maintain stability MoM 9
5.3.Asian Metal Copyright3 Chinese NCM precursor producers' stocks in January 2025 down 17.Asian Metal Copyright3 Chinese cobalt sulfate producers' sales volume in January 2025 down by 10.8% MoM 9
5.4 Cobalt chloride 9
5.4.Asian Metal Copyright14 Delivered prices for LNCMO 613 5 3.Asian Metal Copyright1 Chinese cobalt chloride producers' operating rate in January 2025 move down by 24.7% MoM 9
5.4.Asian Metal Copyright6.Asian Metal Copyright2 China's cobalt chloride output in January 2025 decreased by 26.1% MoM 10
5.4.Asian Metal Copyright5.Asian Metal Copyright3 Chinese cobalt chloride producers' stocks in January 2025 down by 8.3% MoM 10
5.4.Asian Metal Copyright1 Market Movements in China 3 3.Asian Metal Copyright3 Chinese cobalt chloride producers' sales volume in January 2025 down by 30.9% MoM 10
5.5 Cobalt tetroxide 11
5.5.1 Chinese cobalt tetroxide producers' operating rate in January 2025 down by 1% MoM 11
5.5.2 China's cobalt tetroxide output in January 2025 down by 1% MoM 11
5.5.3 Chinese cobalt tetroxide producers' stocks in January 2025 remain stable MoM 11
5.5.3 Chinese cobalt tetroxide producers' sales volume in January 2025 down by 1% MoM 12
5.6 NCM precursor 12
5.6.Asian Metal Copyright6% MoM 7 5.Asian Metal Copyright1 Chinese NCM precursor producers' operating rate in January 2025 down by 1.7% MoM 12
5.6.Asian Metal Copyright1 Chinese cobalt powder producers' operating rate in January 2025 up by 28.Asian Metal Copyright2 China's NCM precursor output in January 2025 down by 1.7% MoM 12
5.6.Asian Metal Copyright1 Chinese cobalt tetroxide producers' operating rate in January 2025 down by 1% MoM 11 5.Asian Metal Copyright3 Chinese NCM precursor producers' stocks in January 2025 down 17.4% MOM 13
5.6.Asian Metal Copyright2 China's cobalt powder output in January 2025 edged up by 3.Asian Metal Copyright3 Chinese NCM precursor producers' sales volume in January 2025 up by 0.7% MOM 13
3.2 6. Customs Statistics 13
6.1 China's unwrought cobalt import volume rose 179.64% YoY in Dec 2025 13
6.2 China's cobalt intermediate products import volume fell 96.47% YoY in Dec 2025 14
.Asian Metal Copyright15 Delivered prices for LNCMO 8312 5 3Asian Metal Copyright