SMM Weekly Forecast on China's Cobalt Market (Mar. 21-25)

SHANGHAI, Mar. 18 (SMM ) -- Based on performance of cobalt price released on MB website, SMM believes cobalt prices will be further weighed in the following week, but any room for prices to fall further will be limited due to thin profit available. 

With the upcoming peak purchasing period in April, demand for cobalt will grow to certain extent. Huge earthquake and tsumani in Japan will negatively affect exports of lithium cobalt oxide and tricobalt tetroxide to Japan to certain extent in the short term. Whether or not production can be resumed or not shall demand on implementation of power supply restriction.   

Prices of cobalt chloride will move in the RMB 69-70/kg, and prices of cobalt sulfate will fluctuate in the RMB 60-61/kg range. Prices of tricobalt tetroxide will be in the RMB 225-230/kg range, and prices of lithium cobalt oxide will be  in the RMB 233-238/kg range.

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