Guangxi Yinyi to reduce cobalt metal output
2021-03-24 08:25:48 [Print]
BEIJING (Asian Metal) 24 Mar 21 - Guangxi Yinyi Advanced Material Co., a major Chinese cobalt metal 99.8%min producer, plans to reduce its cobalt metal 99.8%min output by about 35t MoM to about 100t in March 2021, according to a source from the company.
"As we could gain more profit by producing cobalt sulfate 20.5%min rather than cobalt metal 99.8%min, we restarted producing cobalt sulfate 20.5%min last week and plan to produce around 100t of the material this month. We would reduce our cobalt metal 99.8%min output to only about 100t this month, while we produced approximately 135t of the material last month," said the source.
Established in 2006, Guangxi Yinyi Advanced Material Co. owns annual production capacities of 1,500t and 10,000t of cobalt metal 99.8%min and cobalt sulfate 20.5%min at present. The company halted cobalt sulfate 20.5%min production since the end of 2019 due to low margins. It produced about 800t and 300t of cobalt metal 99.8%min in 2020 and so far in 2021.
Current Chinese cobalt metal 99.8%min mainstream prices hover at RMB350-360/kg (USD53.8-55.3/kg) delivered China D/P, without much change from one week ago.
"As we could gain more profit by producing cobalt sulfate 20.5%min rather than cobalt metal 99.8%min, we restarted producing cobalt sulfate 20.5%min last week and plan to produce around 100t of the material this month. We would reduce our cobalt metal 99.8%min output to only about 100t this month, while we produced approximately 135t of the material last month," said the source.
Established in 2006, Guangxi Yinyi Advanced Material Co. owns annual production capacities of 1,500t and 10,000t of cobalt metal 99.8%min and cobalt sulfate 20.5%min at present. The company halted cobalt sulfate 20.5%min production since the end of 2019 due to low margins. It produced about 800t and 300t of cobalt metal 99.8%min in 2020 and so far in 2021.
Current Chinese cobalt metal 99.8%min mainstream prices hover at RMB350-360/kg (USD53.8-55.3/kg) delivered China D/P, without much change from one week ago.
Cobalt Metal 99.8%min Delivered China
Unit:RMB/kg
China cobalt metal producers' inventory statistics by province by month
Unit: mt
