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[Minor metal] Offers for Domestic Cobalt up
SHANGHAI, June 15 (CBI China) -- Offers for domestic cobalt products climbed propelled by rising LME market prices.
It is reported that the offer was RMB 290,000-295,000/mt for refined cobalt, RMB 72,000-75,000/mt for cobalt chloride, RMB 65,000/mt for cobalt sulfate and RMB 230,000-240,000/mt for cobalt oxide (II,III) today.
CBI believes as the previous price was lower than cost price and the low-priced raw materials were very limited, the suppliers were firm with their offers jointly, contributing to the increases in the price. Although the offers were up, the actual market fundamentals were unchanged, and the demand remained weak, so the actual transactions will depend on the buying interest of downstream consumers.
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