Chinese cobalt sulfate prices stabilize
2023-03-15 08:29:53 [Print]
BEIJING (Asian Metal) 15 Mar 23 - The Chinese cobalt sulfate 20.5%min market witnessed reducing buying activities and suppliers ceased increasing prices and held prices firm over the past two days. Therefore, the Chinese cobalt sulfate 20.5%min mainstream prices hover at RMB42,000-44,000/t (USD6,108-6,399/t) delivered D/A 180 days at present, without much change from early this week. Given that suppliers refuse to mark down prices, insiders forecasted that the Chinese cobalt sulfate 20.5%min mainstream prices would continue staying at current levels in the coming week.
A producer in South China noted that he holds cobalt sulfate 20.5%min quotation firm at about RMB44,000/t (USD6,399/t) delivered D/A 180 days and refuses to accept any counteroffer now, the same as two days ago. He last sold 30t at around RMB44,000/t (USD6,399/t) late last week. "My clients became inactive in purchasing, so I failed to get inquiries so far this week," said the producer, who prefers to hold stocks rather than lower prices due to their thin margins. He forecasted that the Chinese cobalt sulfate 20.5%min mainstream prices would still not change in the forthcoming week.
The producer, with an annual production capacity of 12,000t of cobalt sulfate 20.5%min, expects to produce only around 300t this month due to weak demand from buyers, compared with about 600t last month. He produced approximately 3,000t and 750t respectively last year and so far this year. He holds an inventory of around 30t at the moment, an increase of 30t MoM.
Another producer in South China disclosed that he quotes around RMB44,000/t (USD6,399/t) delivered D/A 180 days and considers selling at about RMB43,000/t (USD6,253/t) now, in line with early this week. "I concluded my latest sale late last week, when I sold 60t at around RMB43,000/t (USD6,253/t)," said the producer, who failed to receive any inquiries over the past two days and lacks confidence towards the demand outlook in the coming week. In view of low profit, he has no intention to lower prices in spite of buyers' wait-and-see attitudes. He forecasted that the Chinese cobalt sulfate 20.5%min mainstream market would continue witnessing steady prices in the coming week.
The producer, with an annual production capacity of 5,000y of cobalt sulfate 20.5%min, the producer's output so far in 2023 recorded around 70t, compared with approximately 630t in 2022. He estimates to produce around 90t in March, compared with about 30t in February. He doesn't have inventory now, down by 20t MoM.
A producer in South China noted that he holds cobalt sulfate 20.5%min quotation firm at about RMB44,000/t (USD6,399/t) delivered D/A 180 days and refuses to accept any counteroffer now, the same as two days ago. He last sold 30t at around RMB44,000/t (USD6,399/t) late last week. "My clients became inactive in purchasing, so I failed to get inquiries so far this week," said the producer, who prefers to hold stocks rather than lower prices due to their thin margins. He forecasted that the Chinese cobalt sulfate 20.5%min mainstream prices would still not change in the forthcoming week.
The producer, with an annual production capacity of 12,000t of cobalt sulfate 20.5%min, expects to produce only around 300t this month due to weak demand from buyers, compared with about 600t last month. He produced approximately 3,000t and 750t respectively last year and so far this year. He holds an inventory of around 30t at the moment, an increase of 30t MoM.
Another producer in South China disclosed that he quotes around RMB44,000/t (USD6,399/t) delivered D/A 180 days and considers selling at about RMB43,000/t (USD6,253/t) now, in line with early this week. "I concluded my latest sale late last week, when I sold 60t at around RMB43,000/t (USD6,253/t)," said the producer, who failed to receive any inquiries over the past two days and lacks confidence towards the demand outlook in the coming week. In view of low profit, he has no intention to lower prices in spite of buyers' wait-and-see attitudes. He forecasted that the Chinese cobalt sulfate 20.5%min mainstream market would continue witnessing steady prices in the coming week.
The producer, with an annual production capacity of 5,000y of cobalt sulfate 20.5%min, the producer's output so far in 2023 recorded around 70t, compared with approximately 630t in 2022. He estimates to produce around 90t in March, compared with about 30t in February. He doesn't have inventory now, down by 20t MoM.
