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Home / Metal News / Newssummary: China’s SRB Expected to Purchase Cobalt Metal

Newssummary: China’s SRB Expected to Purchase Cobalt Metal

Jul 14, 2014 17:11

Source:SMM

It was reported that China’s State Reserves Bureau (SRB) will purchase about 1,000 tonnes of cobalt metal this week, DZHnews.com reported today.

SHANGHAI, Jul. 14 (SMM) – It was reported that China’s State Reserve Bureau (SRB) will purchase about 1,000 tonnes of cobalt metal this week, DZHnews.com reported today.

10 companies, including Jinchuan Group, will attend the round of reserves building, two people familiar with the matter told the newswire.

The SRB purchased several hundreds of cobalt metal early last year after the price slid to a historical low level of 194,000 yuan ($31,456) per tonne in late December. The price of the material has surged by over 10% since the beginning of 2014, and the round of SRB purchases will add to the price rising momentum, it added.

SRB purchase

Chinese news summary

China State Reserve Bureau news

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