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[Minor metal] Cobalt Oxide (II, III) Prices Slip
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Sept. 15 (SMM) -- Cobalt oxide (II, III) prices slipped to RMB 230-250/kg due to sluggish domestic market demand.
Large cobalt oxide (II, III) producers reduced prices recently, but trading volumes remained limited given weak downstream demand.
SMM believes spot supply of cobalt oxide (II, III) was sufficient, while the demand remained weary, resulting in falling prices. However, any further downward movement for cobalt oxide (II, III) will be limited in the near future, since market prices around RMB 230/kg have been below production costs at producers.
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