[Minor metal] Slim Transactions in Domestic Cobalt Salt Market

SHANGHAI, Apr. 8 (CBI China) -- Last week, domestic cobalt salt price rose, so the transactions were slim in the market recently, and the wait-and-see sentiment dominated the market.

    Sources report that Jinchuan Group lifted the refined cobalt price on April 2nd, so the domestic cobalt salt suppliers also raised the price. The price of cobalt chloride was RMB 78,000-80,000/mt; the price of cobalt sulfate was RMB 68,000-70,000/mt. The trade volumes declined in cobalt salt market after the price rose, and the wait-and-see sentiment prevailed among the downstream producers. In addition, the cobalt salt producers were unwilling to sell at low price due to rising price of raw materials and tight supply.

    Some suppliers said a portion of downstream customers have built up cobalt salt stock before the price adjustments. Furthermore, no strong support was for this round of price rise. Even some insiders said the ore suppliers ramped up the price of cobalt products on purpose in order to sell ores. CBI believes the market trend of cobalt salt will depend on the changes in downstream demand.

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