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[Minor metal] Forecast of Domestic Cobalt Market Next Week
SHANGHAI, Apr. 3 (CBI China) -- Recently, the slight rise in LME price will continue to support Chinese cobalt market. However, the support is not enough to push up domestic cobalt price. The price of domestic cobalt products rose this week, and the trade volumes were on downward trend. The future price of domestic cobalt price will depend on the downstream demand and the purchase volume. Domestic cobalt price will stabilize at current price.
Next week, refined cobalt prices will move in the RMB 320,000-330,000/mt range; prices will be in the RMB 75,000-78,000/mt range for cobalt chloride; cobalt sulfate prices will be in the RMB 66,000-68,000/mt range; prices will be around RMB 260,000/mt for cobalt oxide (II,III); prices will be around RMB 260,000/mt for lithium cobalt oxide.
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