[Minor metal] Cobalt Oxide (II, III) Prices Slide

SHANGHAI, Sept. 17 (SMM) -- Cobalt oxide (II, III) prices slipped to RMB 230-235/kg from RMB 240/kg due to weak demand and lackluster trading sentiment.

    Large cobalt oxide (II, III) suppliers in Jiangsu and Zhejiang provinces lowered prices to RMB 230-235/kg in early of this month, and Jinchuan Group also reduced cobalt oxide (II, III) ex-works prices to RMB 235/kg in early of this week.

    SMM believes, on the one hand, Li-ion battery demand reported no improvement, so downstream purchasing interest remained low, and only a small number of downstream Li-ion battery producers replenished raw material stocks; on the other hand, domestic supply surplus of cobalt products aggravated, resulting in slips in cobalt prices.

    Cobalt oxide (II, III) prices are expected to remain stable before National Day holiday, since the oversupply will report no changes in the near future and downstream lithium cobalt oxide firms had no plans of large amount of stock replenishment before the holiday.

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