Cobalt Sulpate Rallied on Potential Bottom Fishing

SHANGHAI, Feb 16 (SMM) - The prices of cobalt sulphate have rallied slightly and stabilised.

In past months, the prices of cobalt salt were on the wane, dampening the production passion of smelters when the operating rates were already low in January due to the Chinese New Year holiday. As such, salt smelters basically focused on selling finished product stocks.

However, recently there are rumours that a  in Jiangsu decided to purchase about 800 mt of cobalt sulphate in metal content on dips, thus the smelters became tougher in holding their offers, and the cobalt sulphate prices inched higher.

So far, smelters refused to sell cobalt sulphate at prices lower than 40,000 yuan/mt.