SHANGHAI, Jun. 4 (SMM) -- Prices of cobalt series products are expected to stay stable in the following week due to support from firm raw material prices and costs.
Mainstream traded prices of cobalt chloride may get support at RMB 72,000/mt and prices of spot tricobalt tetroxide may move around RMB 240/kg. Traded prices of lithium cobalt oxide will move between RMB 245,000-255,000/mt.
Purchases for lithium cobalt oxide may increase recently as prices almost bottomed out. Market participants are suggested focusing on transactions of lithium cobalt oxide in the following week. It is known transactions of lithium cobalt oxide increase over the past two years when prices of lithium cobalt oxide hit the cost level, and prices of cobalt series products only warm up after lithium cobalt dioxide price increases.
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