Monthly Cobalt Market Report Aug 2020
2020-09-15 19:20:55 【Print】
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1 Market Highlights
Offers on MB (Metal Bulletin) rose this month, and most of Chinese cobalt raw material traders showed strong interest in holding back from selling in the spot market, so cobalt raw material prices increased. In the middle of this month, with tight supply of raw material got eased, the raw material market was in a stalemate.
In August, the orders of alloy and magnet industry did not rise as expected, but prices for cobalt metal and cobalt powder continued to rise supported by higher raw material prices. In late August, along with tight supply of raw material eased, cobalt metal prices fell and cobalt powder market was in a stalemate.
In the power vehicle market, the end power vehicle market improved month by month, so LNCMO market saw a few more orders MOM. Cobalt salts producers still insisted on cobalt sulfate prices early this month, but prices for cobalt sulfate began to fall in mid-to-late August as transactions were limited.
The 3C market saw active transactions. Cobalt tetroxide and cobalt chloride suppliers made strong offers in early August. Cobalt tetroxide prices kept stable in mid-to-late August as the tight supply of raw material got eased.
Ceramic and pigment plants did not close orders as expected dragged by sluggish consumption in real estate industry, so they only purchased cobalt oxide in small volumes. But cobalt oxide prices kept stable after rising this month supported by firm cobalt tetroxide prices.
Offers on MB (Metal Bulletin) rose this month, and most of Chinese cobalt raw material traders showed strong interest in holding back from selling in the spot market, so cobalt raw material prices increased. In the middle of this month, with tight supply of raw material got eased, the raw material market was in a stalemate.
In August, the orders of alloy and magnet industry did not rise as expected, but prices for cobalt metal and cobalt powder continued to rise supported by higher raw material prices. In late August, along with tight supply of raw material eased, cobalt metal prices fell and cobalt powder market was in a stalemate.
In the power vehicle market, the end power vehicle market improved month by month, so LNCMO market saw a few more orders MOM. Cobalt salts producers still insisted on cobalt sulfate prices early this month, but prices for cobalt sulfate began to fall in mid-to-late August as transactions were limited.
The 3C market saw active transactions. Cobalt tetroxide and cobalt chloride suppliers made strong offers in early August. Cobalt tetroxide prices kept stable in mid-to-late August as the tight supply of raw material got eased.
Ceramic and pigment plants did not close orders as expected dragged by sluggish consumption in real estate industry, so they only purchased cobalt oxide in small volumes. But cobalt oxide prices kept stable after rising this month supported by firm cobalt tetroxide prices.
