SMM Weekly Forecast on Cobalt Market (Jul. 19-23)

SHANGHAI, July 16 (SMM) -- Demand for cobalt from lithium battery was extremely sluggish amid seasonal low demand period. Downstream consumers are in more favorable position as cobalt is in surplus. If prices of cobalt concentrate continue falling, prices of cobalt prices will fall further. 

Recent transactions were largely dominated by 99.3% cobalt. Therefore, prices may still have room to fall further and traded prices may move between RMB 310,000-330,000/mt.

It is expected that mainstream traded prices of cobalt chloride may move between 71,000-72,000/mt; prices of tricobalt tetroxide will be temporarily stable around RMB 230/kg and traded prices of lithium cobalt will move in the RMB 235,000-245,000/mt.

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