Cobalt(II) Iodide Dihydrate

Cobalt Iodide Market Intelligence Report (July 29, 2026)

I. Price Trends
1. Domestic Quotations
- Yongshuo New Materials Co., Ltd. (Chenzhou City, Hunan Province): Cobalt iodide (99% purity) ex-factory price: RMB 2,500.00/kg — stable.
- Zhengzhou Alpha Chemical Co., Ltd.: Cobalt iodide (98% purity), price on application per gram; flexible packaging options (1 g–1 kg); no specific price range disclosed.

2. International Market Dynamics
- Global cobalt iodide prices are influenced by supply-demand balance, raw material costs, and regional policies; however, real-time international quotations are currently unavailable.
- Global market data for 2025 indicate that cobalt iodide pricing is significantly affected by purity grade (e.g., 99%, 99.5%, 99.9%) and end-use applications (e.g., catalysts, battery materials), with premium pricing observed for high-purity products.

II. Supply-Demand Analysis
1. Supply Side
- Primary Ore Supply: The Democratic Republic of the Congo (DRC) has progressively standardized its cobalt ore export quota system; however, quota allocation efficiency remained low in H1 2026, and unused quotas were reclaimed in June 2026—tightening primary cobalt supply.
- Recycling Growth: China’s recycled cobalt salt output surged from 2,000–2,500 metal tons in June 2025 to 4,000–4,500 metal tons in June 2026, accounting for 34% of total cobalt raw material production—effectively offsetting part of the primary ore shortfall.
- Corporate Behavior: Some recycling smelters reduced output due to declining profitability (e.g., sulfuric cobalt losses reaching RMB 8,000/ton); nonetheless, relatively strong economics continue to support overall growth in recycling output.

2. Demand Side
- Traditional Applications: Demand from humidity sensors, catalysts, and other conventional sectors remains stable but exhibits limited growth momentum.
- Emerging Applications: Demand for high-purity cobalt iodide from new-energy vehicles (NEVs) and rechargeable batteries is rising; however, growth in ternary battery production and vehicle installations has decelerated. In July, passenger vehicle sales declined both year-on-year and month-on-month, suppressing demand expansion.
- End-Consumer Markets: Consumer electronics (3C) enter their traditional peak season, yet overall cobalt market demand support continues to weaken.

III. Cost & Profitability
1. Raw Material Costs
- Prices of cobalt intermediates remain firm; however, recycling-side costs have risen amid falling cobalt salt prices—compressing recycling smelting margins.
- Indonesia’s MHP (Mixed Hydroxide Precipitate) hydrometallurgical projects face delays in commissioning due to a sulfur supply crisis; existing project output has declined, increasing MHP import costs into China.

2. Smelting Profitability
- Sulfuric Cobalt: Purchasing intermediates externally incurs losses of approximately RMB 8,000/ton; spot production willingness is extremely low.
- Electrolytic Cobalt: Cash production cost remains stable at RMB 450,000–500,000/ton; weak terminal demand prevents upward price momentum, with maximum losses approaching RMB 1,000,000/ton.
- Cobalt Chloride & Cobalt Tetroxide: Profitability sharply declined in May–June; some producers resorted to price cuts to clear inventory.

IV. Market Drivers
1. Policy Impacts
- DRC’s cobalt export quota control policy constrains supply, partially offset by expanding recycling capacity.
- Indonesia’s inclusion of cobalt content in nickel ore pricing mechanisms increases cobalt-related costs, providing supportive price underpinning.

2. Geopolitical Risks
- The Strait of Hormuz crisis remains unresolved; sulfur transportation is only gradually recovering—impacting Indonesian MHP output and Chinese imports.

3. Corporate Strategies
- Mining companies maintain strong price-support intentions, controlling circulation volumes to sustain prices; meanwhile, recycling smelters face mounting financial pressure, raising the risk of price-cutting sales.

V. Outlook & Risks
1. Price Forecast
- Short Term: Cobalt iodide prices may remain stable or exhibit minor fluctuations, pressured by the broader cobalt market’s weak consolidation trend; however, high-purity grades may demonstrate relative resilience due to sustained demand support.
- Medium Term: Prices could rebound if recycling output growth falls short of expectations or mining companies successfully uphold pricing; conversely, persistently soft end-demand and inventory accumulation would exert downward pressure on prices.

2. Risk Factors
- Supply Risks: Uncertainty surrounding DRC’s export quota policy, pace of Indonesian MHP output recovery, and potential output cuts triggered by eroding recycling smelting profitability.
- Demand Risks: Slowing NEV growth, weaker-than-expected 3C electronics demand, and technological substitution risks for ternary battery chemistries.
- Cost Risks: Volatility in cobalt intermediate prices, recurrence of the sulfur supply crisis, and tightening environmental regulations.