SHANGHAI, Aug. 27 (SMM) -- Traditionally, late August is the usual peak production period at lithium cobalt oxide producers, but production is as good as expected in this year, according to orders received by lithium cobalt oxide producers. It is expected that orders received by lithium cobalt oxide producers were only 70-80% of previous level. Affected by sluggish lithium cobalt oxide market, any room for lithium cobalt oxide prices to climb further will be limited. It is expected that lithium cobalt oxide prices will still move around RMB 235-240/kg.
Supply of domestic refined cobalt increased, and production of refined from Nantong new nickel and cobalt Wei Technology Development Co., Ltd. and Yuanjiang Nickel will undoubtedly increase domestic supply, which may drag down high-priced refined nickel prices. It is expected that mainstream traded prices of refined nickel in China will move between RMB 320,000-330,000/mt in the following week.
Any room for domestic cobalt chloride and tricobalt tetroxide will be limited in the following week given reduced orders at downstream producers and expanded cobalt capacities. It is expected that prices for cobalt chloride will move between RMB 72-74/kg and prices for tricobalt tetroxide will move around RMB 233/kg.
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