SHANGHAI, Jun 13 (SMM) – Refined cobalt prices rose last week. Delayed arrivals of imported cobalt intermediate products have tightened raw material supply to refined cobalt smelters. This, coupled with rising refined cobalt prices overseas, drove domestic smelters to raise offers as well. The price rise will slow down this week.
The prices of cobalt intermediate products rose slightly last week. Some overseas mines cut output amid poor market conditions this year. The cobalt intermediate products of a mining company are not expected to arrive in China until the third quarter. Some mines were disinclined to sell in the spot market. Given the rising prices of downstream cobalt products, the prices of cobalt intermediate products may continue to go up.
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