Cobalt prices continue to decline! A sharp drop of 6,000 yuan in 5 days, with low downstream stocking willingness.

On November 5, 2026, the domestic cobalt spot market weakened again. The average price of Changjiang Spot 1# cobalt was 232,000 yuan/ton, down 6,000 yuan from the previous trading day. Spot quotations continued to decline, and the bearish market sentiment persisted.