[Minor metal] CBI Forecast - Domestic Cobalt Market

SHANGHAI, July 24 (CBI China) -- Market demand remained slim, and a wait-and-see sentiment still dominated the downstream consumers. Domestic cobalt prices ended the upward trend due to ample market supply. Transactions were mixed in domestic market, and traded price range for refined cobalt became wider, and low-priced resources were emerged continuously. Cobalt salt prices remained stable given shortages of upward momentum. However, MB cobalt prices continued to rise, and cobalt ore prices remained in current level, and the supply of refined cobalt with famous brand and high grade became tight, and all three factors helped support prices of cobalt products. As large suppliers held all raw materials and finished products, so there will be little possibility market supply will increase markedly in the short term. Cobalt prices lacked upward momentum, but still with support in the short term.

    Next week, refined cobalt will be traded in the RMB 350,000-360,000/mt range; cobalt chloride will be traded in the RMB 74,000-78,000/mt range; prices will be RMB 65,000-68,000/mt for cobalt sulfate; prices will be RMB 255,000-260,000/mt for cobalt oxide (II,III); prices will be RMB 255,000-260,000/mt for lithium cobalt oxide. 

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