SMM Daily Review on Cobalt Spot Market

SHANGHAI, Mar. 17 (SMM) -- Although China's domestic inventories of cobalt were at high levels, transactions of domestic cobalt increased slightly, with mainstream traded prices increased by RMB 5,000/mt. Mainstream traded prices of cobalt from Jinchuan Group were around RMB 385,000/mt, while mainstream traded prices of cobalt chloride were in the RMB 74,000-75,000/mt range and mainstream traded prices of tricobalt tetroxide were at RMB 240,000/mt. Lithium cobalt oxide were mostly offered at RMB 250,000/mt. Lithium cobalt oxide producers were mainly producing goods according to pre-holiday contracts and there were few transactions of lithium cobalt oxide in spot market.

Currently, traded prices of 99.3% refined cobalt with traded volume between 5-7mt were at USD 17.25/lbs, while traded prices of cobalt from Russia were between USD 18-19/lbs and mainstream traded prices of 99.8% Falconbridge cobalt were at USD 21/lbs. It is expected that overseas offers will remain stable tonight.

To contact the writer on this report: fergiewang@smm.cn

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