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[Minor metal] Prices for Cobalt Ore Expected to Move Narrowly in 2Q
SHANGHAI, Apr. 21 (CBI China) -- Currently, most of ore operators in Africa started resuming production or will resume production, so operating rates of cobalt ore operators in Africa will reach 80% in May. However, those large ore operators experienced large losses last year, causing to tight capital flow, so the cobalt ore output will be limited. CBI believes ore supply will increase in July, and the tightness of domestic ore supply will be eased until 3Q.
It is said the domestic cobalt ore was traded at USD 13.5-14/lbs. CBI believes if the demand fails to increase sharply, the ore price will move in the USD 12-15/lbs range during 2Q.
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