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[Minor metal] Domestic Refined Cobalt Prices Fall Further

iconSep 21, 2009 00:00

SHANGHAI, Sept. 21 (SMM) -- Trading volumes were limited in domestic cobalt market, with cobalt prices down slightly. Refined cobalt from Jinchuan Group or imported from Zambia was mainly traded in the RMB 320,000-335,000/mt range. The falling refined cobalt prices were attributed to the oversupply in domestic market. Meanwhile, the inflow of imported cobalt products in domestic market also helped drag down cobalt prices.

    SMM believes domestic prices for refined cobalt will likely fall further in the near future due to weak demand, with prices estimated at RMB 300,000-320,000/mt.

 

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