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[Minor metal] Domestic Refined Cobalt Prices Continue to Rise Slightly
SHANGHAI, June 17 (CBI China) -- The traded price of domestic refined cobalt continued to rise slightly. Currently, imported refined cobalt was traded in the RMB 285,000-290,000/mt range, while Jinchuan and other domestic brands were sold at RMB 290,000-300,000/mt.
Rising price of imported refined cobalt and firm domestic raw material prices contributed to the price hike for refined cobalt; besides, downstream consumers became active in purchasing to build up raw material stocks due to inflation expectation and herd-following sentiment.
CBI believes current market fundamentals helped support refined cobalt price to rise. However, the growth rate and the sustainability of the price will depend on the downstream demand.
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