Weekly Forecast on China's Domestic Cobalt Market

SHANGHAI, Mar. 19 (SMM) -- Transactions of LME cobalt become brisk and LME cobalt prices are constantly moving up, supporting domestic cobalt prices to move up. Although fundamentals haven't change much, China's cobalt product prices will advance to different degree along with rising costs and climbing LME cobalt prices.

Last week, LME cobalt prices advanced, but China's domestic cobalt prices didn't follow the rising price trend. China's domestic refined cobalt prices are expected to move up slightly in the following week.

Inspired by bullish sentiment and the arrival of impending peak-demand season, prices of cobalt salt and other cobalt prices will also move up stably.

Traded prices of cobalt from Jinchuan Group will between RMB 380,000-390,000/mt, and mainstream prices of cobalt chloride will move in the RMB 75,000-77,000/mt range. Prices of tricobalt tetroxide will move in the RMB 240,000-245,000/mt range, and prices of lithium cobalt oxide will still around RMB 255,000/mt.

To contact the writer on this report: fergiewang@smm.cn

 

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