Cobalt Market Report October 2014
2014-11-14 16:42:04 【Print】
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In October, there is sharp fluctuation in cobalt market, among which cobalt metal as well as cobalt tetroxide prices have shown obvious decline. Cobalt market turned out to see continual oversupply in Q4.
Thus, many consumers consumed their stocks and were in no hurry to make purchase. While some producers were willing to make further concession on prices in order to withdraw capital and clear inventories, leading to successive downtrend of some cobalt products. Most consumers just held wait-and-see attitudes towards future market in view of downward prices, looking to replenish stocks when prices fall down. Demand didn’t show any signs of recovery at the end of October with most showing little confidence in future market prospects.
Thus, many consumers consumed their stocks and were in no hurry to make purchase. While some producers were willing to make further concession on prices in order to withdraw capital and clear inventories, leading to successive downtrend of some cobalt products. Most consumers just held wait-and-see attitudes towards future market in view of downward prices, looking to replenish stocks when prices fall down. Demand didn’t show any signs of recovery at the end of October with most showing little confidence in future market prospects.
