Chinese producers raise cobalt metal price
2015-04-23 17:19:04 [Print]
BEIJING (Asian Metal) 23 Apr 15 - Producers in China raise the cobalt metal prices to RMB215-217/kg (USD15.7-15.9/lb) this week compared with RMB212-213/kg (USD15.5-15.6/lb) last week; furthermore, sources expect that the prices will be lifted up to RMB220/kg (USD16.1/lb) in the first half of May.
A source from a smelter in South China told a price of RMB218/kg (USD15.9/lb) for cobalt metal this week, up by RMB5/kg (USD0.37/lb) compared with that of last week. “We accept a discount for the cobalt metal, but the price will be above RMB215/kg (USD15.7/lb),” said the source, disclosed that more than 30 tons of cobalt metal has been sold at around RMB213/kg (USD15.6/lb) last week.
With an averaging output of around 150tpm of cobalt metal, the smelter has received increased inquiries in recent ten days, expecting the price to go above RMB220/kg (USD16.1/lb) in May. “I think the price will keep going up in May in view of the increasing interest from buyers,” said the source.
A Chinese trader told Asian Metal that the domestic producers are reluctant to sell cobalt metal currently after the price has begun to move up since last week. “The offer has been lifted up to above RMB220/kg (USD16.1/lb) or they said no stocks,” said the source, who has sold around 20 tons of cobalt metal at RMB213-217/kg (USD15.5-15.9/lb) since last week.
The source revealed that he has less than 30 tons of cobalt metal at hand, intending to replenish stocks before May. “Compared with RMB207-208/kg (USD15.1-15.2/lb) at the beginning of this month, the prices of cobalt metal are at around RMB215-217/kg (USD15.7-15.9/lb) currently,” added the source.
A source from a smelter in South China told a price of RMB218/kg (USD15.9/lb) for cobalt metal this week, up by RMB5/kg (USD0.37/lb) compared with that of last week. “We accept a discount for the cobalt metal, but the price will be above RMB215/kg (USD15.7/lb),” said the source, disclosed that more than 30 tons of cobalt metal has been sold at around RMB213/kg (USD15.6/lb) last week.
With an averaging output of around 150tpm of cobalt metal, the smelter has received increased inquiries in recent ten days, expecting the price to go above RMB220/kg (USD16.1/lb) in May. “I think the price will keep going up in May in view of the increasing interest from buyers,” said the source.
A Chinese trader told Asian Metal that the domestic producers are reluctant to sell cobalt metal currently after the price has begun to move up since last week. “The offer has been lifted up to above RMB220/kg (USD16.1/lb) or they said no stocks,” said the source, who has sold around 20 tons of cobalt metal at RMB213-217/kg (USD15.5-15.9/lb) since last week.
The source revealed that he has less than 30 tons of cobalt metal at hand, intending to replenish stocks before May. “Compared with RMB207-208/kg (USD15.1-15.2/lb) at the beginning of this month, the prices of cobalt metal are at around RMB215-217/kg (USD15.7-15.9/lb) currently,” added the source.
Cobalt Metal 99.8%min In warehouse Rotterdam
Unit:USD/lb
China cobalt metal producers' output statistics by province by month
Unit: mt
