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

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

SMM Insight 04:02:25PM May 10, 2010 Source:SMM

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

 

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


 

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

SMM Insight 04:02:25PM May 10, 2010 Source:SMM

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

 

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