SHANGHAI, Apr 30 (SMM) – Sluggish demand weighed on prices of cobalt products and lithium salt in China over the week ended Friday April 27.
SMM assessed refined cobalt at 650,000-675,000 yuan/mt as of Friday April 27, with the average price down 6,500 yuan/mt from a week ago. Small amounts of purchases on demand were done at low prices while sellers lost much of their bargaining chip.
SMM assessed cobalt sulphate at 135,000-140,000 yuan/mt as of Friday April 27, down 3,500 yuan/mt from the Friday before, and cobalt chloride at 158,000-160,000 yuan/mt, down 5,000 yuan/mt. Poor demand drove small-sized smelters of cobalt salt to lower their offers.
SMM assessed nickel sulphate at 265,000-285,000 yuan/mt as of Friday April 27, flat from a week ago.
SMM assessed lithium carbonate at 140,000-145,000 yuan/mt as of Friday, 5,500 yuan/mt lower from a week ago. Greater supplies in Qinghai in April accounted for the drop in prices.
We expect China’s lithium-ion battery market to see steady demand in the second quarter. Cobalt prices are likely to remain rangebound while lithium carbonate prices are likely to dip as supplies grow.
For editorial queries, please contact Daisy Tseng at firstname.lastname@example.org
For more information on how to access our research reports, please email email@example.com