Monthly Cobalt Market Report Jan 2021
2021-02-05 16:10:41 【Print】
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Market Highlights
Entering into January 2021, cobalt metal prices in Europe continued to move up and raw material purchasing coefficients hovered at high levels, so cobalt raw material suppliers quite intended to raise their prices and hold back from selling, and cobalt intermediate prices moved up. In China, many consumers from the high-temperature and magnetic material industries already finished restocking raw material cobalt metal, so the cobalt metal market saw limited deals. But owing to firm cobalt raw material prices, this month in China prices for cobalt metal and cobalt powder both moved up dramatically.
On the power battery market, LNCMO suppliers held saturated orders and NCM precursor suppliers showed increasing demand for raw material cobalt sulfate; further underpinned by firm cobalt raw material prices, cobalt sulfate suppliers raised their quotations dramatically, so cobalt sulfate prices moved up.
With the Spring Festival holiday approaching, many downstream consumers already finished pre-holiday purchases; but owing to firm cobalt raw material prices, cobalt chloride and cobalt tetroxide suppliers raised their quotations, leading to notable increases in prices for the two materials.
With the Spring Festival holiday approaching, consumers from downstream ceramics and pigment industries made only limited purchases of raw material cobalt oxide; but since quotations for cobalt tetroxide moved up notably this month while cobalt raw material prices stayed firm, cobalt oxide suppliers raised their quotations, leading to rising cobalt oxide prices.
Entering into January 2021, cobalt metal prices in Europe continued to move up and raw material purchasing coefficients hovered at high levels, so cobalt raw material suppliers quite intended to raise their prices and hold back from selling, and cobalt intermediate prices moved up. In China, many consumers from the high-temperature and magnetic material industries already finished restocking raw material cobalt metal, so the cobalt metal market saw limited deals. But owing to firm cobalt raw material prices, this month in China prices for cobalt metal and cobalt powder both moved up dramatically.
On the power battery market, LNCMO suppliers held saturated orders and NCM precursor suppliers showed increasing demand for raw material cobalt sulfate; further underpinned by firm cobalt raw material prices, cobalt sulfate suppliers raised their quotations dramatically, so cobalt sulfate prices moved up.
With the Spring Festival holiday approaching, many downstream consumers already finished pre-holiday purchases; but owing to firm cobalt raw material prices, cobalt chloride and cobalt tetroxide suppliers raised their quotations, leading to notable increases in prices for the two materials.
With the Spring Festival holiday approaching, consumers from downstream ceramics and pigment industries made only limited purchases of raw material cobalt oxide; but since quotations for cobalt tetroxide moved up notably this month while cobalt raw material prices stayed firm, cobalt oxide suppliers raised their quotations, leading to rising cobalt oxide prices.
