SMM Weekly Cobalt Sulphate Price Review and Forecast

SHANGHAI, May 15 (SMM) - Cobalt sulphate prices dropped slightly last week. Cobalt salt smelters who use intermediate products as raw materials held offers firm as they were unable to purchase raw materials at desirable prices. Smelters who use battery scrap as raw materials also refrained from selling at lower prices as battery scrap was harder to get by after lithium prices rebounded. Ternary precursor market did not recover noticeably. Consumer electronics demand is expected to improve, driving some enterprises to purchase cobalt sulphate to produce Co3O4. Cobalt sulphate prices are expected to stabilise in the short term.