China's cobalt market continued to exhibit a weak off-season pattern during the week ending July 20, 2026, as downstream demand remained sluggish and competitive pressures across the industry intensified, according to Mysteel's weekly price and cost review. In the cobalt salt segment, trading activity was notably quiet. Both cobalt sulfate and cobalt chloride remained locked in a cost-driven bargaining phase, with downstream buyers widely expected to defer procurement decisions until after August.
The cautious purchasing stance reflects broader seasonal softness and a lack of near-term demand catalysts in the market. Electrolytic cobalt reverted to a slow downtrend during the review period, as traders adopted a pronounced wait-and-see posture. Two converging factors weighed on prices: an increased supply of cobalt from recycled sources and the broader impact of the summer holiday season, which typically dampens industrial activity and buying interest.
Co3O4 and lithium cobalt oxide (LCO) — key materials used in battery cathode production — underwent range-bound consolidation throughout the week. End-consumer electronics orders have yet to show meaningful recovery, large-scale restocking has not commenced, and battery cell manufacturers have been slowing their purchasing pace, collectively limiting any upside price momentum. The market outlook for the near term appears constrained.
Multiple consecutive daily reports from Mysteel through mid-to-late July 2026 have pointed to a persistent weak consolidation pattern in cobalt salt prices, with analysts noting weakness on both the supply and demand fronts and lackluster overall trading conditions. Source: Mysteel, July 20, 2026.
Source: mysteel.net