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[Minor metal] Domestic Cobalt Salt Price Slips
SHANGHAI, May 7 (CBI China) -- Cobalt salt prices dipped to RMB 72,000-75,000/mt from pre-holiday’s level of RMB 75,000/mt due to weak transactions in domestic market.
Cobalt salt price slips were due mainly to the weary domestic downstream battery industry, and some cobalt salt producers sold off goods for cash reflow, as the demand for cobalt salt declined. The ore cost was USD 13.5/lbs, and the cobalt salt cost was RMB 75,000/mt. A portion of large producers adhered to the price at RMB 75,000/mt. CBI believes the African ore and other raw materials supply will remain tight before July, so cobalt salt price will find support at RMB 70,000/mt.
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