[Minor metal] Upward Momentum for Domestic Cobalt Prices Limited

SHANGHAI, June 9 (CBI China) -- Supply surplus still existed in domestic cobalt market, and the suppliers intended to raise the price jointly. However, the mainstream traded prices remained unchanged from last week, but the price range for fluctuations became wider.

    It is reported that a portion of refined cobalt from Brazil and India arrived at domestic ports recently, leading to supply pressure in the market and the shortages of upward momentum for the price. Currently domestic refined cobalt was mainly traded at RMB 280,000/mt.

    A portion of cobalt chloride suppliers were firm with their price above RMB 68,000/mt, but select suppliers moved cargos at RMB 65,000/mt, leading to wider price spread, due mainly to sluggish downstream demand and oversupply in the market. The suppliers with capital strength were firm with their offers, while the factories with capital problems will sell goods at lower prices.

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