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[Minor metal] Jinchuan to Reduce Refined Cobalt Price to RMB 320,000/mt
SHANGHAI, Feb. 16 (CBI China) -- Jinchuan Group reduced refined cobalt price this afternoon to RMB 320,000/mt from the present price at RMB 350,000/mt which was effective from February 2nd.
CBI believes the price adjustment at Jinchuan was due to the impact of LME price. Last Friday, MB99.3% refined cobalt price dropped to USD 11.5-13.5/pound from USD 13-15.25/pound. The price gap between SHFE and LME became wider, there will be new arrivals of imported refined cobalt, leaving greater pressures on refined cobalt sales at Jinchuan, and therefore it made such price adjustment.
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