[Minor metal] CBI Forecast - Domestic Cobalt Market

SHANGHAI, July 3 (CBI China) -- The price spread between domestic and overseas prices still existed, leaving limited upward room for MB refined cobalt prices, but further increases in MB prices will lack solid support from market fundamentals when MB prices rise to domestic cobalt price levels. Supply and demand remained in balance in domestic refined cobalt market, and the price will fluctuate in current level narrowly in view of shortages of upward momentum. Prices of cobalt salt and other cobalt products will remain unchanged in view of current low purchasing interest.

    Next week, refined cobalt will be traded around RMB 330,000/mt; cobalt chloride will be traded in the RMB 73,000-76,000/mt range; prices will be RMB 63,000-66,000/mt for cobalt sulfate; prices will be RMB 240,000-245,000/mt for cobalt oxide (II,III); prices will be RMB 245,000-250,000/mt for lithium cobalt oxide. 

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