SMM Daily Review on Cobalt Spot Market-Shanghai Metals Market

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SMM Daily Review on Cobalt Spot Market

SMM Insight 03:59:57PM Mar 17, 2010 Source:SMM

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

 

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

 

 

SMM Daily Review on Cobalt Spot Market

SMM Insight 03:59:57PM Mar 17, 2010 Source:SMM

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

 

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