SMM12 March 28: today, the share price of cobalt plate rose again. As of the close of trading in Luoyang Molybdenum Industry, Western Resources and Societe Generale Mining rose by more than 3%.
Prior to this, Luoyang Luanchuan Molybdenum Group Co., Ltd. proposed to adopt CMOC Limited (, a wholly owned subsidiary of Natural Resource Elite Investment Limited (Chinese name "Luoyang Molybdenum holding Co., Ltd."), from Freeport-McMoRan Inc.. (Delaware) ((abbreviated as "FCX") buys its indirect holding of Bermuda subsidiary Jenny East Holdings Ltd. And Kisanfu Holdings Ltd. , thus indirectly acquiring 95% of the shares of Phelps Dodge Congo S.A.R.L., and 95% of the interests of the Kisanfu copper-cobalt mine in the Democratic Republic of the Congo.
On the basis of the database provided by FCX, Luoyang Molybdenum Industry verified that the estimated amount of Kisanfu copper and cobalt ore resources is about 365 million tons of ore, with an average grade of 1.72% of copper and about 6.28 million tons of copper metal; the average grade of cobalt is about 0.85% and the amount of cobalt metal is about 3.1 million tons. The analysis shows that the Kisanfu copper-cobalt deposit is rich in resources and the average grade of copper-cobalt ore is high, so it has the potential for further exploration.
In terms of cobalt prices, according to SMM research, since December 23, the price of electrolytic cobalt has continued to rise, as of today, the average price of electrolytic cobalt is 272000 yuan / ton, up 17% from the lowest level since the beginning of the year.
"Click to view the spot historical price of SMM cobalt lithium
At present, the market cobalt shou storage rumors reappear, the previous 2000 tons of shou reserves may increase, the 14th five-year Plan may begin to discuss cobalt shou reserves, market rumors of thousands of tons, stimulate the electrolytic cobalt market, manufacturers and traders quote rising prices, a little transaction prices rise, short-term electrolytic cobalt prices may continue.
