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[Minor metal] Prices of Domestic Cobalt Chloride Continue to Fall

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SHANGHAI, May 26 (CBI China) -- Demand remained weak in domestic cobalt salt market, leading to continuous declines in the price. Cobalt chloride was mainly traded at RMB 65,000/mt, while cobalt sulfate was mainly traded in the RMB 58,000-60,000/mt range.
&nbsp;&nbsp;&nbsp; It is reported that a portion of domestic cobalt chloride producers sold off part of their inventories due to capital flow problem. Additionally, some traders were pessimistic toward the market outlook, leading to more sell-off activities. In this context, the cobalt chloride prices continued to fall to current RMB 64,000-65,000/mt from last week level of RMB 68,000/mt. The producers without capital problem were firmed with their offers at RMB 68,000/mt. 
&nbsp;&nbsp;&nbsp; CBI believes any downward room for cobalt chloride price will be limited, and RMB 60,000/mt will be the next important support level for the price. 
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