Strong Wait-And-See Sentiment in China's Refined Cobalt Market

SHANGHAI, May 10 (EMM) -- Transactions were sluggish in China's refined cobalt market. Prices of imported refined cobalt were temporarily stable, and prices of domestic refined nickel prices slipped.

Refined cobalt 99.3% prices that released on MB website fell significantly by 4.5%. Affected by the price decline, domestic downstream consumers adopted a wait-and-see attitude and transactions were sluggish in spot market. Supply of Mopani cobalt and imported Jinchuan cobalt was relatively tight, and offers of such cobalt were relatively stable between RMB 380,000-385,000/mt and between RMB 400,000-405,000/mt respectively. Low-priced refined cobalt was reported in the market with prices between RMB 350,000-355,000/mt, and the declined domestic cobalt prices may drag down prices of imported nickel.

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

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