SHANGHAI, May 14 (SMM) -- Tight supply and high prices for spot raw material will continue to support domestic cobalt salts and lithium cobalt oxide, and the possibility for mainstream cobalt chloride prices to fall below RMB 75/kg is low.
Spot tricobalt tetroxide prices will slip slightly to RMB 248-251/kg, and prices of lithium cobalt oxide will continue to fluctuate around RMB 250,000/kg.
Prices for imported were also dragged down by low prices of domestic refined cobalt, despite that supply of imported goods was tight in the market. It is expected that prices for major brand imported refined cobalt will be able to stand at current price level, and mainstream traded prices for domestic refined cobalt will be at RMB 360,000/mt.
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