Monthly Cobalt Market Report Jul 2019
2019-08-16 17:43:44 【Print】
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Market Highlights
In July, cobalt metal prices in China and on MB (Metal Bulletin) dropped further and consumers showed little interest in purchases of raw materials cobalt metal and cobalt powder due to weak demand and only made small purchases on the basis of orders, so prices for cobalt metal and cobalt powder dropped further. In late July, upstream supply of cobalt metal decreased in China affected by environmental inspections, and cobalt prices were at low levels, so downstream consumers were optimistic about the market outlook and actively made purchases, leading to rebounding prices for cobalt metal.
With battery industry in the low consumption season, power vehicle market saw limited transactions, and the industry faced cash flow pressure, so battery producers were reluctant to buy raw materials, leading to scarce transactions of cobalt sulfate. However, supported by higher cobalt metal prices, cobalt sulfate producers began to raise prices from late July, and prices for the material were fixed along with transactions for rigid use. Chinese cellphone market saw limited transactions and would see no new demand in a short period of time, so the demand for raw materials of cobalt chloride and cobalt tetroxide was weak. But prices for the two materials were firm in late July as cobalt metal prices rose substantially and most producers faced the cost pressure.
In July, cobalt metal prices in China and on MB (Metal Bulletin) dropped further and consumers showed little interest in purchases of raw materials cobalt metal and cobalt powder due to weak demand and only made small purchases on the basis of orders, so prices for cobalt metal and cobalt powder dropped further. In late July, upstream supply of cobalt metal decreased in China affected by environmental inspections, and cobalt prices were at low levels, so downstream consumers were optimistic about the market outlook and actively made purchases, leading to rebounding prices for cobalt metal.
With battery industry in the low consumption season, power vehicle market saw limited transactions, and the industry faced cash flow pressure, so battery producers were reluctant to buy raw materials, leading to scarce transactions of cobalt sulfate. However, supported by higher cobalt metal prices, cobalt sulfate producers began to raise prices from late July, and prices for the material were fixed along with transactions for rigid use. Chinese cellphone market saw limited transactions and would see no new demand in a short period of time, so the demand for raw materials of cobalt chloride and cobalt tetroxide was weak. But prices for the two materials were firm in late July as cobalt metal prices rose substantially and most producers faced the cost pressure.
