SHANGHAI, May 5 (SMM) -- Supply and demand was sluggish in domestic mainstream refined cobalt market, and prices were temporarily stable. Currently, refined cobalt from Zambia were largely traded at RMB 380,000/mt and mainstream traded prices of refined nickel from Jinchuan Group were at RMB 405,000/mt.
It is reported that refined cobalt prices in overseas market have been higher than those in domestic market since early April, and supply of major brand refined cobalt was limited. However, demand was not strong in China, and short position sentiment was strong in the market. In this context, prices were temporarily stable.
SMM believes that China's domestic cobalt metal prices will still fluctuate recently, and market players are waiting for opportunities to import goods when overseas cobalt prices fall in the future.
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