Fanya exchange’s 21mt cobalt stocks sold for 5.9 million yuan

Published: Oct 8, 2019 11:39

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Shanghai Sanqian New Energy Materials paid 5.91 million yuan for the cobalt inventories held by the now-defunct exchange

SHANGHAI, Oct 8 (SMM) – Shanghai Sanqian New Energy Materials paid about 5.91 million yuan for 21 mt of cobalt metal inventories held by the now-defunct Fanya Metal Exchange in a day-long auction that ended at around CST 10:00 on Sunday October 6.

The intermediate court of Kunming, the capital of Yunnan province, posted the auction on China's biggest e-commerce platform Alibaba.

The latest auction of cobalt stocks from the bankrupt Fanya exchange came after a string of auctions of rare earths, antimony and tungsten.

Cobalt

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