Cobalt price rises in China
2005-01-19 10:16:34 【Print】
BEIJING (Asian Metal) 19-Jan-05 The China cobalt market is getting tight currently and the prevailing price for Jinchuan’s materials surges to around rmb380,000/t, up from rmb375,000/t last week.
“Many buyers to accept a price at around rmb380,000/t now for they thought that the price might continue to go up in the coming weeks whereas last week they were still reluctant to accept a price just above rmb375,000/t,” a Shanghai based trader told Asian Metal today.
He noted that the spot materials are very limited in the market. “It seems that the import cobalt metal nearly disappears in China market now and only a few Jinchuan’s materials are available at present,” said the manager,” adding,” I believed that Jinchuan alone can’t meet the full demand in China and the market still needs large quantities of import cobalt.”
However, the trader still hesitates whether to import the materials for it is at a relatively high level of over $18/lb now.
In the mean time, other sources reported that some Jinchuan’s materials are changing hands at as high as over rmb385,000/t due to the tight supply. And they are expecting for higher prices.
“Many buyers to accept a price at around rmb380,000/t now for they thought that the price might continue to go up in the coming weeks whereas last week they were still reluctant to accept a price just above rmb375,000/t,” a Shanghai based trader told Asian Metal today.
He noted that the spot materials are very limited in the market. “It seems that the import cobalt metal nearly disappears in China market now and only a few Jinchuan’s materials are available at present,” said the manager,” adding,” I believed that Jinchuan alone can’t meet the full demand in China and the market still needs large quantities of import cobalt.”
However, the trader still hesitates whether to import the materials for it is at a relatively high level of over $18/lb now.
In the mean time, other sources reported that some Jinchuan’s materials are changing hands at as high as over rmb385,000/t due to the tight supply. And they are expecting for higher prices.
