Prices of Domestic Cobalt Products Keep on Rising-Shanghai Metals Market

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Prices of Domestic Cobalt Products Keep on Rising

SMM Insight 05:51:20PM Jan 11, 2010 Source:SMM

SHANGHAI, Jan. 11 (SMM) -- Affected by rising price trend in overseas market, offers of domestic cobalt products kept on rising. Offers of cobalt ore (6%) advanced to USD 13.5/lbs; mainstream offers of cobalt chloride were in the RMB 77,000-80,000/mt range; mainstream offers of cobalt sulfate were at RMB 65,000/mt; mainstream offers of tricobalt tetroxide were in the RMB 250,000-255,000/mt range; mainstream offers of lithium cobalt oxide were in the RMB 250,000-260,000/mt range.

According to the result of SMM survey, more than 80% suppliers are optimistic towards future market outlook and are reluctant to move goods. The main reasons are as follows: firstly, prices of ore will increase due to expport restriction policy by Congo goverment; secondly, buying of cobalt will increase, which will bring around of price increase of cobalt products as cobalt will be traded on LME;  thirdly, expectation of inflation will also help push cobalt prices on upward track.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn
 

Prices of Domestic Cobalt Products Keep on Rising

SMM Insight 05:51:20PM Jan 11, 2010 Source:SMM

SHANGHAI, Jan. 11 (SMM) -- Affected by rising price trend in overseas market, offers of domestic cobalt products kept on rising. Offers of cobalt ore (6%) advanced to USD 13.5/lbs; mainstream offers of cobalt chloride were in the RMB 77,000-80,000/mt range; mainstream offers of cobalt sulfate were at RMB 65,000/mt; mainstream offers of tricobalt tetroxide were in the RMB 250,000-255,000/mt range; mainstream offers of lithium cobalt oxide were in the RMB 250,000-260,000/mt range.

According to the result of SMM survey, more than 80% suppliers are optimistic towards future market outlook and are reluctant to move goods. The main reasons are as follows: firstly, prices of ore will increase due to expport restriction policy by Congo goverment; secondly, buying of cobalt will increase, which will bring around of price increase of cobalt products as cobalt will be traded on LME;  thirdly, expectation of inflation will also help push cobalt prices on upward track.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn