Morocco CTT to increase cobalt metal output
2020-08-28 08:23:27 [Print]
BEIJING (Asian Metal) 28 Aug 20 - Morocco CTT, the biggest cobalt metal 99.8%min producer in North Africa, would increase its cobalt metal 99.8%min output by about 50% MOM to around 150t in August 2020 and estimates an output of no less than 150t in September 2020, according to a source from the company.
"As our clients purchased actively from the end of July till mid-August, we increased our operating rate from 60% to around 90% in mid-August and plan to produce around 150t of cobalt metal 99.8%min this month, while our output in July recorded only about 100t," said the source, adding that they would lift up production volume again in September if they could receive more orders. Otherwise, they would still produce around approximately 150t next month.
Established in 1928, Morocco CTT began to produce cobalt metal 99.8%min in 1996. The company owns an annual production capacity of 2,000t. Its outputs in 2019 and so far this year reached about 1,600t and 900t respectively. It holds about 150t of stocks at present, without much change MOM. The company owns a sales office in Switzerland and mainly sells their products to Europe and U.S.
Supported by suppliers' firm costs, cobalt metal 99.8%min mainstream prices in Europe hover at USD15.5-15.7/lb in warehouse Rotterdam at present, in line with one week ago. Consumers purchase from hand to mouth. As suppliers intend to watch whether the demand would pick up in September and have no intention to lower prices, insiders forecast that the European cobalt metal 99.8%min market would keep seeing steady prices in the coming week.
"As our clients purchased actively from the end of July till mid-August, we increased our operating rate from 60% to around 90% in mid-August and plan to produce around 150t of cobalt metal 99.8%min this month, while our output in July recorded only about 100t," said the source, adding that they would lift up production volume again in September if they could receive more orders. Otherwise, they would still produce around approximately 150t next month.
Established in 1928, Morocco CTT began to produce cobalt metal 99.8%min in 1996. The company owns an annual production capacity of 2,000t. Its outputs in 2019 and so far this year reached about 1,600t and 900t respectively. It holds about 150t of stocks at present, without much change MOM. The company owns a sales office in Switzerland and mainly sells their products to Europe and U.S.
Supported by suppliers' firm costs, cobalt metal 99.8%min mainstream prices in Europe hover at USD15.5-15.7/lb in warehouse Rotterdam at present, in line with one week ago. Consumers purchase from hand to mouth. As suppliers intend to watch whether the demand would pick up in September and have no intention to lower prices, insiders forecast that the European cobalt metal 99.8%min market would keep seeing steady prices in the coming week.
Cobalt Metal 99.8%min Delivered China
Unit:RMB/kg
China cobalt metal producers' inventory statistics by province by month
Unit: mt
