[Minor metal] Domestic Cobalt Salt Market Mixed

SHANGHAI, May 13 (CBI China) -- The traded price spread became wider in domestic market due to sell-off activities. Current traded price is in the RMB 68,000-73,000/mt range for cobalt chloride; while traded price is in the RMB 58,000-63,000/mt range for cobalt sulfate.

    Sources report that a portion of large producers adhered to cost price. The cost price was mainly in the RMB 73,000-75,000/mt at domestic cobalt chloride producers; another portion of suppliers were pessimistic about the market outlook. They believed demand will remain weak and the price will fall further, so they sold off the inventories at price in the RMB 68,000-70,000/mt range. Some market insiders believe selected suppliers depressed the price on purpose in order to purchase cobalt salt at lower prices.

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