[Minor metal] Next Week Forecast of Domestic Cobalt Trend

SHANGHAI, Nov. 28 (CBI China) -- Recently the industry are generally concerned about when the price of cobalt can reach the bottom-line. In addition, CBI also reminds the industry look at the time of market being in the bottom. Unlike past macro-economic background, under the context of current economic crisis, the supply and demand fundamentals were seriously affected. Supply and demand decided the time of bottoming out, and macro side decided the time of the market being the bottom. Judging from the current situation, cobalt ore imports in September and October were too large, some insiders pointed out that at present nearly 1,000 tons of excess cobalt metal were in domestic market. Under the background of serious economic crisis affecting the demand of downstream, the consumption of inventory products would take more time. A more optimistic view is that in March next year a basic balance between supply and demand will be achieved, in the second half of 2009 as demand recovered along with the economic resumption, cobalt price will rise again.

    CBI predicts that cobalt prices will be steady for the time being next week. Electrolytic cobalt mainstream price was 25-26 million / ton; cobalt chloride mainstream transaction price was 55,000 yuan / ton or so; cobalt sulfate price was 4.8-5 yuan / ton; four-oxide three-cobalt mainstream transaction price was 0.2 million yuan / ton; Lithium cobalt mainstream price was 0.2 million yuan / ton or so.

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