SHANGHAI, Mar. 5 (SMM) --
Weekly Review
As oversupply situation in domestic cobalt market still haven't eased and demand still didn't recover, prices of cobalt products continued weakening. Decline range of domestic cobalt prices were narrower than from overseas market as domestic suppliers struggled to prevent cobalt price from falling. If cobalt prices released on MB website continue to decline and domestic credit will be tightened, domestic cobalt product producers will under great cash flow pressure and prices of domestic cobalt products will also decline. However, since prices of ore haven't fluctuated widely, any room for domestic cobalt products prices to fall further will be limited. In this context, cobalt market will still be stagnant in the near term.
Weekly Forecast
Traded prices of refined cobalt from Jinchuan Group will be in the RMB 380,000-390,000/mt range. Mainstream prices of cobalt chloride will be in the RMB 72,000-73,000/mt range. Prices of tricobalt tetroxide will be 240,000-245,000/mt range, and prices of lithium cobalt oxide will move around RMB 250,000/mt.
To contact the writer on this report: fergiewang@smm.cn
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