Zhuzhou Dingli plans to increase output of cobalt powder
2023-03-02 08:36:50 [Print]
Beijing (Asian metal) 2 Mar 23 - Zhuzhou Dingli Industrial Co., Ltd, a major producer of Chinese cobalt powder in China, plans to increase their output by about 10t MoM to around 60t in March, disclosed a source from the company to Asian metal.
"Most of our consumers from alloy industry intensively replenished stocks of cobalt powder for consumption about 2 months when prices were at around RMB260-265/kg (USD37.9-38.6/kg) delivered D/A 180 days at the end of February. To deal with the rising orders, we plan to increase our output this month", said the source, adding that their output in April will be in line with this month. Given the firm prices of the cobalt carbonate, they predict that the mainstream prices of Chinese cobalt powder would keep steady this week.
Based on an annual production capacity of 1,500t, they plan to produce about 60t this month, up by about 10t from last month. Holding no inventory, they produced about 670t in 2022 and roughly 80t so far this year.
Today, the mainstream prices of Chinese cobalt powder 99.5%min stand at RMB270-275/kg (USD39.3-40.1/kg) delivered D/A 180 days, up by about RMB10/kg (USD1.5/kg) from late last week. On account of the firm prices of Chinese cobalt carbonate, insiders anticipate that the mainstream prices of Chinese cobalt powder would stand at the current level this week.
"Most of our consumers from alloy industry intensively replenished stocks of cobalt powder for consumption about 2 months when prices were at around RMB260-265/kg (USD37.9-38.6/kg) delivered D/A 180 days at the end of February. To deal with the rising orders, we plan to increase our output this month", said the source, adding that their output in April will be in line with this month. Given the firm prices of the cobalt carbonate, they predict that the mainstream prices of Chinese cobalt powder would keep steady this week.
Based on an annual production capacity of 1,500t, they plan to produce about 60t this month, up by about 10t from last month. Holding no inventory, they produced about 670t in 2022 and roughly 80t so far this year.
Today, the mainstream prices of Chinese cobalt powder 99.5%min stand at RMB270-275/kg (USD39.3-40.1/kg) delivered D/A 180 days, up by about RMB10/kg (USD1.5/kg) from late last week. On account of the firm prices of Chinese cobalt carbonate, insiders anticipate that the mainstream prices of Chinese cobalt powder would stand at the current level this week.
