SHANGHAI, Jan. 26 (SMM) -- Transactions were sluggish and prices were temporally stable in domestic cobalt market. Mainstream traded prices of refined nickel from Jinchuan group were in the RMB 405,000-410,000/mt range, mainstream traded prices of cobalt chloride were at RMB 80,000/mt, mainstream traded prices of tricobalt tetroxide were in the RMB 250-255/kg range, and mainstream traded prices of lithium cobalt oxide were in the RMB 250-260/kg range.
Prices of domestic cobalt prices ceased to rise and stayed stable temporarily along with price trend in overseas market, but transactions were relatively sluggish. It was reported that prices of cobalt ore and other raw materials climbed around USD 14/lbs and supply of ore was slightly tight in the market. Although many domestic producers had inventories which can be used for 3-6 months, supplies still kept firm offers due to price increases of raw materials. In addition, demand from downstream consumers was relatively sluggish and consumers were reluctant to accept increased prices. In this context, overall trading sentiment was sluggish.
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