Domestic Cobalt Price Temporarily Stable

SHANGHAI, Jun. 17 (SMM) -- Overseas cobalt prices were stable after the Dragon Boat Festival, and transactions of domestic cobalt products were sluggish, with stable prices reported in the market.

Current mainstream traded prices were RMB 340,000/mt for cobalt from Jinchuan Group. Mainstream offers were RMB 73,000/mt cobalt chloride, RMB 61,000/mt for cobalt sulfate, RMB 238,000/mt for tricobalt tetroxide and RMB 245,000/mt for cobalt lithium oxide.

SMM believes that current cobalt prices were already lower than cost and price movement in the future shall depend on price changes of raw materials. Cobalt market is experiencing its low demand season, and prices may have room to fall further if raw material prices are down.

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

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