SMM Weekly Forecast on China's Cobalt Market (Jun. 14-18)-Shanghai Metals Market

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SMM Weekly Forecast on China's Cobalt Market (Jun. 14-18)

SMM Insight 05:09:44PM Jun 11, 2010 Source:SMM

SHANGHAI, Jun. 11 (SMM) -- Transactions were sluggish for refined cobalt, with strong wait-and-see sentiment in the market. If overseas cobalt prices continued to fall, domestic prices will also follow the trend, resulting in more sluggish transactions by then. However, as current prices are already lower than costs, suppliers quoted offers with limited decline. Mainstream traded prices of cobalt chloride were around RMB 72,000/mt, and mainstream spot traded prices of tricobalt tetroxide were around RMB 240/kg. Traded prices of lithium cobalt oxide will move between RMB 245,000-255,000/mt.

Bottom fishing buying from downstream lithium sector has increased recently. Market players are recommended to focus on transactions of lithium cobalt oxide in the following week. It is known that price increases of cobalt series products came after lithium cobalt oxide price increases over the past two years when bottom fishing buying pushed up lithium cobalt oxide prices.

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


 

 

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49430.0
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51.5
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SMM Weekly Forecast on China's Cobalt Market (Jun. 14-18)

SMM Insight 05:09:44PM Jun 11, 2010 Source:SMM

SHANGHAI, Jun. 11 (SMM) -- Transactions were sluggish for refined cobalt, with strong wait-and-see sentiment in the market. If overseas cobalt prices continued to fall, domestic prices will also follow the trend, resulting in more sluggish transactions by then. However, as current prices are already lower than costs, suppliers quoted offers with limited decline. Mainstream traded prices of cobalt chloride were around RMB 72,000/mt, and mainstream spot traded prices of tricobalt tetroxide were around RMB 240/kg. Traded prices of lithium cobalt oxide will move between RMB 245,000-255,000/mt.

Bottom fishing buying from downstream lithium sector has increased recently. Market players are recommended to focus on transactions of lithium cobalt oxide in the following week. It is known that price increases of cobalt series products came after lithium cobalt oxide price increases over the past two years when bottom fishing buying pushed up lithium cobalt oxide prices.

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