[Minor metal] Forecast of Domestic Cobalt Market Next Week

SHANGHAI, June 5 (CBI China) -- The market fundamentals recorded no improvements, but will be deteriorating. However, cobalt producers intended to push up cobalt prices as the cobalt salt price was lower than cost price, and the low-priced raw materials were unavailable. In addition, the European suppliers refused to cut prices, leading to firm cobalt prices. Meanwhile, there will be high possibility cobalt price will rise driven by rising nickel and copper prices, but any upward room for cobalt price will be limited due to sluggish demand.

    Next week, refined cobalt prices will be around RMB 290,000/mt; prices will be RMB 68,000/mt for cobalt chloride; cobalt sulfate prices will be RMB 58,000/mt; prices will be RMB 235,000/mt for cobalt oxide (II,III); prices will be around RMB 230,000/mt for lithium cobalt oxide. 

Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040