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Home / Metal News / Cobalt sulphate destocking slowed, prices trended lower

Cobalt sulphate destocking slowed, prices trended lower

Apr 14, 2021 10:46

Source:SMM

Destocking of cobalt sulphate slowed in March, with inventory down 488 mt in metal content. Demand did not recover to pre-CNY level, while supply recovered rapidly to 4,301 mt in metal content.

SHANGHAI, Apr 14 (SMM) — Destocking of cobalt sulphate slowed in March, with inventory down 488 mt in metal content. Demand did not recover to pre-CNY level, while supply recovered rapidly to 4,301 mt in metal content.

The average monthly price of cobalt sulphate was 91,000 yuan/mt in March, an increase of 11% month-on-month and 75% year-on-year. The price of cobalt sulphate showed a trend of rise-stable-fall. Destocking slowed down and transaction was sporadic, weighing on prices.

Destocking is expected to pick up in April. However, lower prices of intermediate products and recycled scrap and delay in downstream purchases may weigh on the price of cobalt sulphate in April.

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