[Minor metal] Limited Trading Volumes in Domestic Cobalt Salt Market

SHANGHAI, July 13 (CBI China) -- Transactions were lackluster in domestic cobalt salt market, with stable prices. Cobalt chloride was mainly traded in the RMB 74,000-75,000/mt range, and cobalt sulfate was traded at RMB 65,000/mt. 

    Sources report that although domestic prices of refined cobalt continued to climb recently, the domestic demand for cobalt salt remained weak, and the downstream purchasing interest was low. Market insiders said the downstream consumers have purchased large volumes of spot goods when the price was below RMB 70,000/mt previously, and their existing inventories will be consumed completely until the end of July; the end-consumers were cutting production and were cautious towards purchases in view of current higher price.

    However, the tightness of ore supply drove up cobalt salt prices, so almost all the cobalt salt producers with sufficient capital were reluctant to move cargos.

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