Cobalt Market Report February 2012
2012-03-30 10:48:17 【Print】
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At the end of January and early February, insiders in China went back into cobalt market after the Spring Festival holiday, and the cobalt market started to move gradually. During the period of Chinese lunar New Year, cobalt market in Europe kept picking up. It is widely believed that it was caused by increased demand, but part of insiders believed that it was caused by speculation. Chinese insiders went back into the market after about one week vacation, and found that European market continue going up. With the increasing cost of import cobalt metal, Chinese suppliers started to raise their offers. After the holiday, along with consumers entering market and beginning to make procurement, cobalt metal price went up. However, most consumers built stock before the Spring Festival holiday, cobalt salts market was inactive, and only some users who held low inventory entered into cobalt market to buy raw materials.
