Monthly Cobalt Market Report May 2018

Contents

1. Market Highlights 3
2. Economy and Policy 3
2.1 Economy and Policy in China 3
2.2 Economy and Policy Abroad 3
3. Market Movements 3
3.1 Market Movements in China 3
3.1.1 Cobalt ore prices stable after rise 3
3.1.2 Cobalt metal prices slump 3
3.1.3 Cobalt powder prices follow to drop 4
3.1.4 Cobalt carbonate prices down 4
3.1.5 Cobalt sulfate prices drop substantially 4
3.1.6 Cobalt chloride prices down 4
3.1.7 Cobalt tetroxide prices down 5
3.1.8 Cobalt oxide prices keep dropping 5
3.2 Market Movements Abroad 5
3.2.1 European high grade cobalt metal prices flat 5
3.2.2 European cobalt oxide prices down 6
3.2.3 American low grade cobalt metal prices down 6
4. Producers Statistics 6
4.1 China's cobalt metal output down by 14.1% MOM in May 2018 6
4.2 China's cobalt powder output down slightly by 2.3% MOM in May 2018 7
4.3 China's cobalt sulfate output down by 9.9% MOM in May 2018 7
4.4 China's cobalt chloride output down by 4.8% MOM in May 2018 8
4.5 China's cobalt tetroxide output down by 12.3% MOM in May 2018 8
5. Company News 8
5.1. Zhejiang Sansheng to halt cobalt sulfate production for maintenance 8
5.2 Changsha Shunyang to add new cobalt sulfate capacity late May 8
6. Relevant Industry News 9
6.1 Glencore's Congo woes throw spotlight on country's cobalt dominance 9
6.2 Huayou Cobalt to raise cobalt output by 50% in 2018 9
6.3 First batch of central environmental inspections for "look back" to start comprehensively 9
6.4 DRC determines publication of reform clause of mining law 9
7. Market Outlook for Next Month 9
7.1 Cobalt concentrate 9
7.2 Cobalt metal 9
7.3 Cobalt powder 9
7.4 Cobalt carbonate 9
7.5 Cobalt sulfate 10
7.6 Cobalt chloride 10
7.7 Cobalt tetroxide 10
7.8 Cobalt oxide 10

Graph 1 Cobalt concentrate 6-8% price trend in China in May 2018 (USD/lb) 3
Graph 2 Cobalt metal 99.8%min price trend in China in May 2018 (RMB/kg) 3
Graph 3 Cobalt powder 99.5%min price trend in China in May 2018 (RMB/kg) 4
Graph 4 Chinese cobalt carbonate 46%min price trend in May 2018 (RMB/t) 4
Graph 5 Cobalt sulfate 20.5%min price trend in China in May 2018 (RMB/t) 4
Graph 6 Cobalt sulfate 20%min price trend in China in May 2018 (RMB/t) 4
Graph 7 Cobalt chloride 24%min price trend in China in May 2018 (RMB/t) 5
Graph 8 Cobalt tetroxide 73.5%min price trend in China in May 2018 (RMB/kg) 5
Graph 9 Cobalt oxide 72%min price trend in China in May 2018 (RMB/kg) 5
Graph 10 Cobalt monoxide 78%min price trend in China in May 2018 (RMB/kg) 5
Graph 11 Cobalt metal 99.8%min price trend in Europe in May 2018 (USD/lb) 5
Graph 12 Cobalt metal 99.3%min price trend in Europe in May 2018 (USD/lb) 6
Graph 13 Cobalt oxide 72%min price trend in Europe in May 2018 (EUR/kg) 6
Graph 14 Cobalt metal 99.8%min price trend in U.Asian Metal Copyright5 Cobalt sulfate 10 7.Asian Metal CopyrightS. in May 2018 (USD/lb) 6
Graph 15 Cobalt metal 99.3%min price trend in U.Asian Metal Copyright Market Outlook for Next Month 9 7.Asian Metal CopyrightS. in May 2018 (USD/lb) 6
Graph 16 China's monthly output of cobalt metal from Jan 2017 to May 2018 (ton) 6
Graph 17 China's monthly output of cobalt powder from Jan 2017 to May 2018 (ton) 7
Graph 18 China's monthly output of cobalt sulfate from Jan 2017 to May 2018 (ton) 7
Graph 19 China's monthly output of cobalt sulfate from Jul 2016 to May 2018 by region (ton) 7
Graph 20 China's cobalt chloride output by month from Jan 2017 to May 2018 (ton) 8
Graph 21 China's monthly output of cobalt tetroxide from Jan 2017 to May 2018 (ton) 8






.Asian Metal Copyright3 China's cobalt sulfate output down by 9Asian Metal Copyright