SMM Weekly Forecast on Cobalt Market (Jul. 26-30)-Shanghai Metals Market

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SMM Weekly Forecast on Cobalt Market (Jul. 26-30)

SMM Insight 05:15:53PM Jul 23, 2010 Source:SMM

SHANGHAI, July 23 (SMM) -- Demand for cobalt doesn't show any sign to recover in the short term, and prices will still linger at low level.

Some smelters cut capacity, while some expand capacity and launch new products. Market supply is expected to increase and be concentrated by limited suppliers.  Domestic demand remains weak, and the oversupply situation may deteriorate further. Cobalt prices in overseas market still move at low levels, and domestic cobalt prices will continue to linger at low level in the recent term due to lack of support from demand.

It is expected that mainstream traded prices of refined cobalt will move between RMB 300,000-320,000/mt, prices of cobalt chloride may move around 70,000/mt, prices of cobaltous sulfate will be temporarily stay firm at RMB 58,000/mt, prices of tricobalt tetroxide will move between RMB 225-230/kg and traded prices of lithium cobalt will move in the RMB 230,000-240,000/mt.

 

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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


 

SMM Weekly Forecast on Cobalt Market (Jul. 26-30)

SMM Insight 05:15:53PM Jul 23, 2010 Source:SMM

SHANGHAI, July 23 (SMM) -- Demand for cobalt doesn't show any sign to recover in the short term, and prices will still linger at low level.

Some smelters cut capacity, while some expand capacity and launch new products. Market supply is expected to increase and be concentrated by limited suppliers.  Domestic demand remains weak, and the oversupply situation may deteriorate further. Cobalt prices in overseas market still move at low levels, and domestic cobalt prices will continue to linger at low level in the recent term due to lack of support from demand.

It is expected that mainstream traded prices of refined cobalt will move between RMB 300,000-320,000/mt, prices of cobalt chloride may move around 70,000/mt, prices of cobaltous sulfate will be temporarily stay firm at RMB 58,000/mt, prices of tricobalt tetroxide will move between RMB 225-230/kg and traded prices of lithium cobalt will move in the RMB 230,000-240,000/mt.

 

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