[Minor metal] Cobalt Price Expected to Fluctuate in The Short Term But Fall in The Long Run

SHANGHAI, Apr. 30 (CBI China) -- As LME cobalt metal price is flat at domestic price basically, domestic producers could not accept the price for 99.3% refined cobalt over USD 15/lbs, so the LME price lacked support from Chinese demand.

    Domestic refined cobalt price will fall slightly in the short term due to the arrivals of imported refined cobalt, but any negative impact will be limited. The raw material inventories of domestic major producers have fallen to the safe level, which will likely support the price to rebound slightly in mid-May.

    After July, cobalt ore from Congo and a large volume of cobalt hydroxide will arrive at domestic ports gradually, leaving greater pressure on the market, so the price will be more likely to move downward.

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