SMM Weekly Forecast on China’s Cobalt Market (Dec. 6-10)-Shanghai Metals Market

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SMM Weekly Forecast on China’s Cobalt Market (Dec. 6-10)

SMM Insight 05:04:03PM Dec 03, 2010 Source:SMM

SHANGHAI, Dec. 3 (SMM) -- Given the sluggish demand, bearish sentiment, and the fact that cargo-holders moved goods at losses as well as from unstable overseas cobalt prices released on MB website, SMM expects that domestic cobalt market will maintain current sluggish condition.

As domestic cobalt prices reacted sensitively towards overseas cobalt prices, SMM expects that refined cobalt (99.8%) price will fall to between RMB 285,000-305,000/mt.

As large suppliers were unwilling to move goods at low price, supply of low-price cobalt salt disappeared.  It is expected that prices in the next week for cobalt chloride and cobalt sulfate will remain unchanged from this week. SMM expects that prices for cobalt sulfate will move between RMB 67-70/kg and prices of cobalt sulfate will move between RMB 58.5-60.5/mt in the following week.
With decline in cobalt salt prices, prices for tricobalt tetraoxide will move between RMB 220-225/kg in the following week.

As tricobalt tetraoxide was purchased by lithium cobalt oxide producers at prices above RMB 235/kg previous, any room for lithium cobalt oxide to fall further will be limited. SMM expects that prices for lithium cobalt oxide will move between RMB 235-237/kg in the following week.

 

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

SMM Weekly Forecast on China’s Cobalt Market (Dec. 6-10)

SMM Insight 05:04:03PM Dec 03, 2010 Source:SMM

SHANGHAI, Dec. 3 (SMM) -- Given the sluggish demand, bearish sentiment, and the fact that cargo-holders moved goods at losses as well as from unstable overseas cobalt prices released on MB website, SMM expects that domestic cobalt market will maintain current sluggish condition.

As domestic cobalt prices reacted sensitively towards overseas cobalt prices, SMM expects that refined cobalt (99.8%) price will fall to between RMB 285,000-305,000/mt.

As large suppliers were unwilling to move goods at low price, supply of low-price cobalt salt disappeared.  It is expected that prices in the next week for cobalt chloride and cobalt sulfate will remain unchanged from this week. SMM expects that prices for cobalt sulfate will move between RMB 67-70/kg and prices of cobalt sulfate will move between RMB 58.5-60.5/mt in the following week.
With decline in cobalt salt prices, prices for tricobalt tetraoxide will move between RMB 220-225/kg in the following week.

As tricobalt tetraoxide was purchased by lithium cobalt oxide producers at prices above RMB 235/kg previous, any room for lithium cobalt oxide to fall further will be limited. SMM expects that prices for lithium cobalt oxide will move between RMB 235-237/kg in the following week.

 

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