Home / Metal News / Copper / SMM Weekly Forecast on Cobalt Market (Aug. 9-13)
SMM Weekly Forecast on Cobalt Market (Aug. 9-13)
Aug 6, 2010 17:48CST
Recent traded prices of cobalt concentrate (excluding copper) were temporarily stable between USD 12.5-13/lbs.

SHANGHAI, Aug. 6 (SMM) -- Prices of refined cobalt remained stable at low level in overseas market and are flat with domestic refined cobalt prices, thus squeezing profit room for arbitragers and hampering cobalt imports. In China's domestic cobalt market, transactions were sluggish, and prices were temporarily stable. Domestic mainstream traded prices for refined cobalt were still between RMB 30,000-320,000/mt.

Domestic spot tricobalt tetroxide prices may have room to fall slightly due to impact from further price decline of lithium cobalt oxide and further weakening of demand. However, as most tricobalt tetroxide arranged production based on the long-term contract they received, any room for tricobalt tetroxide prices fall further will be limited. It is expected that prices will move between RMB 225-230/kg in the following week.

Mainstream prices of cobalt chloride slipped around RMB 70,000/mt. It is expected speculative buying will increase when prices decline to RMB 680,000-690,000/mt, and prices will receive support at this level.

Recent traded prices of cobalt concentrate (excluding copper) were temporarily stable between USD 12.5-13/lbs, and the possibility for prices to fall further is low in the short term, which will help support prices of cobalt series products. From a medium term point view, prices still have the possibility to fall due to the impact from sluggish downstream demand.


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


Manganese Cobalt Silicon Selenium Bismuth
minor metal price
Mn Co Si Se Bi

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news