[Minor metal] CBI Forecast - Cobalt Market

SHANGHAI, June 26 (CBI China) – A portion of refined cobalt ordered in early June will arrive at ports from next week, so domestic refined cobalt supply will increase, hampering price rise for refined cobalt. The domestic demand for cobalt products will report no improvement given the approach of seasonal low demand period, and supply surplus will exist in the market, limiting the upward momentum for cobalt prices. The price rise lacks support from costs in European markets, so growth for cobalt price will slow.

    Next week, refined cobalt will be traded in the RMB 310,000-320,000/mt range; cobalt chloride will be traded in the RMB 73,000-76,000/mt range; prices will be RMB 63,000-65,000/mt for cobalt sulfate; prices will be RMB 235,000/mt for cobalt oxide (II,III); prices will be RMB 240,000/mt for lithium cobalt oxide. 

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