Metals News
[Minor metal] Analysis of Cobalt Salt Market
industry news
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Jan. 9 (CBI China) -- Cobalt salt maintained a small number of transactions due to sluggish market demand. Cobalt salts prices were driven up by increasing refined cobalt price. Prices were RMB 70,000/mt for cobalt chloride, were RMB 60,000/mt for cobalt sulphate. Cobalt salt price increase reflects the current status of suppliers and market expectations. On the one hand, the pressure of capital at cobalt salt manufacturers was eased; on the other hand, as increasing production suspension occurred in the main ore origin Congo, leading limited cobalt supply in the future, the suppliers were unwilling to sell the goods with low prices, for maybe no cobalt with current low prices will be supplied in the future. But the demand, especially the demand in battery was affected by the financial crisis seriously, with the shrinkage of 70%, dampening the enthusiasm of the purchase in downstream producers.

 

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