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[Minor metal] SMM Forecast - Domestic Cobalt Market
SHANGHAI, Oct. 23 (SMM) -- Cobalt prices showed an upward trend, but supply surplus hampered its upward momentum. Downstream consumers purchased limitedly due to relatively ample raw material inventories, and the further upward movement for cobalt prices will need the support from more market transactions. In addition, the growth in raw material prices will also help drive up cobalt prices.
Next week, refined cobalt will be traded at RMB 350,000/mt; cobalt chloride will be traded at RMB 728,000/mt; prices will be RMB 60,000-62,000/mt for cobalt sulfate; prices will be RMB 230,000-235,000 for cobalt oxide (II, III); prices will be RMB 245,000-250,000/mt for lithium cobalt oxide.
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