Cobalt market cloudy or sunny?
2005-02-04 08:48:20 【Print】
BEIJING (Asian Metal) 4-Feb-05 The international cobalt market gets cool and the price softens slightly at present, whereas China major nickel & cobalt producer Jinchuan Group goes upstream and raises its cobalt quotation on Thursday.
A vane of international cobalt market - the WMC cobalt website – decreased the quotation on Wednesday to $19.25/lb, down by 25 cent per lb. And it also reported a sale for 5t at $19.25/lb with the delivery to North America next month.
Currently, the demand from Asia and Europe still remains weak. And price of cobalt 99.3% softens to $17.85-18.50/lb, down from $18-18.50 seen last week, while the price of high-grade materials firms at $18.50-19 per lb.
In the mean time, China leading nickel and cobalt smelter Jinchuan moves up the cobalt price to rmb360,000/t ex works, up from previous rmb350,000/t ex works. However, the firm declines to reveal the specific reason of the increasing price.
Now Chinese traders are watching and waiting for the further market development, then taking next moves. Most of them hope that the international price could continue drifting down.
A vane of international cobalt market - the WMC cobalt website – decreased the quotation on Wednesday to $19.25/lb, down by 25 cent per lb. And it also reported a sale for 5t at $19.25/lb with the delivery to North America next month.
Currently, the demand from Asia and Europe still remains weak. And price of cobalt 99.3% softens to $17.85-18.50/lb, down from $18-18.50 seen last week, while the price of high-grade materials firms at $18.50-19 per lb.
In the mean time, China leading nickel and cobalt smelter Jinchuan moves up the cobalt price to rmb360,000/t ex works, up from previous rmb350,000/t ex works. However, the firm declines to reveal the specific reason of the increasing price.
Now Chinese traders are watching and waiting for the further market development, then taking next moves. Most of them hope that the international price could continue drifting down.
