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[Minor metal] SMM Forecast - Domestic Cobalt Market
SHANGHAI, Aug. 28 (SMM) -- China's imports of cobalt during July exerted great pressure on the market, and both trading sentiment and demand remained weak, dragging down cobalt prices slightly. At present, stable MB prices help support domestic prices, but domestic prices will likely fall as well, if MB prices slip. Domestic prices for cobalt products are expected to remain unchanged if MB prices remain stable.
Next week, refined cobalt will be traded at RMB 300,000-340,000/mt; cobalt chloride will be traded around RMB 71,000/mt; prices will be RMB 60,000/mt for cobalt sulfate; prices will be RMB 240,000 for cobalt oxide (II,III); prices will be RMB 240,000-245,000/mt for lithium cobalt oxide.
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