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[Minor metal] SMM Forecast - Domestic Cobalt Market
SHANGHAI, Aug. 7 (SMM) -- The improved Li-ion battery demand boosted cobalt market, so the demand for cobalt products is expected to increase significantly over next two months, which will provide the upward momentum for cobalt prices. Supply: imported cobalt ores are expected to decrease due to increased difficulties in transportation in South Africa, as well as inner problems at selected large suppliers. Cobalt ore prices will remain above USD 13/lbs, which will help support prices for cobalt products.
Next week, refined cobalt will be traded around RMB 350,000/mt; cobalt chloride will be traded around RMB 76,000-78,000/mt; prices will be RMB 66,000/mt for cobalt sulfate; prices will be RMB 255,000-260,000/mt for cobalt oxide (II,III); prices will be RMB 260,000/mt for lithium cobalt oxide.
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