Chinese Domestic Cobalt Prices Temporarily Stable

SHANGHAI, Jun. 8 (SMM) -- Transactions were still sluggish in domestic cobalt salt markets, with mainstream offers of cobalt chloride between RMB 73-74/kg and mainstream offers of cobalt sulfate between RMB 62-63/kg.

Wait-and-see sentiment was strong under the context of economic double dip that downstream consumption was sluggish and prices were on downward track. However, prices of upstream cobalt ore were still firm, with 6% cobalt concentrate without copper remained around USD 14.5/lbs, resulted in production costs of cobalt chloride at RMB 75,000/mt. Since the profit gained through selling previous low-priced cobalt chloride at current prices still can't make up the losses due to high cobalt concentrate prices, most producers preferred to adopt a wait-and-see attitude and were not eager to move previous inventories. In this context, domestic cobalt salt prices were temporarily stable and shall not fall easily.

To contact the writer on this report: jianghanmei@smm.cn

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn