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[Minor metal] Trading Volumes Increase in Cobalt Salt Market
SHANGHAI, Sept. 7 (SMM) -- Trading volumes increased in domestic cobalt salt market recently, but traded prices were relatively lower. Cobalt chloride was traded around RMB 70,000/mt, while cobalt sulfate was mainly traded at RMB 60,000/mt.
SMM believes as cobalt salt prices were close to the bottom line, downstream consumers increased purchases for raw material stock replenishment, contributing to the growing trading volumes in cobalt salt market. Most producers had made almost no deals during one month given weak downstream demand, so a number of producers with capital problems had to sell off goods for cash recollection.
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