Monthly Cobalt Market Report May 2020
2020-06-16 19:08:06 【Print】
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1 Market Highlights
South Africa was unblocked in early May and raw material was shipped on around 20 May. Large smelters in China had sufficient raw material, while some small ones purchased spot raw material at high prices at ports.
Orders of alloy and magnet recovered slowly in China, but smelters raised cobalt metal and cobalt powder prices supported by the news of tight raw material supply.
In the power battery market, with power battery plants running at low operating rate, the raw material cobalt sulfate market saw weak demand, and most precursor producers replenished cobalt sulfate in early April and showed little interest in purchases in May.
The 3C market saw stable transactions, and mainstream LCO producers produced normally, leading to better demand for cobalt tetroxide and firm prices.
Ceramic and pigment plants ran at low operating rate, so the demand for cobalt oxide was weak. But cobalt oxide prices increased driven by higher cobalt tetroxide prices.
South Africa was unblocked in early May and raw material was shipped on around 20 May. Large smelters in China had sufficient raw material, while some small ones purchased spot raw material at high prices at ports.
Orders of alloy and magnet recovered slowly in China, but smelters raised cobalt metal and cobalt powder prices supported by the news of tight raw material supply.
In the power battery market, with power battery plants running at low operating rate, the raw material cobalt sulfate market saw weak demand, and most precursor producers replenished cobalt sulfate in early April and showed little interest in purchases in May.
The 3C market saw stable transactions, and mainstream LCO producers produced normally, leading to better demand for cobalt tetroxide and firm prices.
Ceramic and pigment plants ran at low operating rate, so the demand for cobalt oxide was weak. But cobalt oxide prices increased driven by higher cobalt tetroxide prices.
