European cobalt metal traders bullish about price trends
2023-03-17 10:31:52 [Print]
BEIJING (Asian Metal) 17 Mar 23 - As some buyers and investment companies became active in purchasing, European cobalt metal 99
A European trader revealed that he lifts cobalt metal 99.8%min quotation to about USD16.5/lb in warehouse Rotterdam and refuse to accept any counteroffer now, while he considered selling at around USD16.0/lb one week ago . He last sold 10t at around USD15.7/lb early this month . "I noticed that some buyers and investment companies became active in purchasing, so we plan to keep increasing cobalt metal 99 . 8%min prices in the coming week," said the trader, who forecasted that the cobalt metal 99 . 8%min mainstream prices in Europe would go up further in the coming week as suppliers hold back from selling.
With a typical monthly trading volume of 150t of cobalt metal 99.8%min, the trader expects a sales volume of around 140t this month, without much change MoM . He sold approximately 1,800t and 350t respectively in 2022 and so far in 2023 . He holds an inventory of around 150t at present, in line with mid-February.
Another European trader noted that he quotes around USD16.5/lb in warehouse Rotterdam for cobalt metal 99 . 8%min and has intention to sell at about USD16.2/lb at present, while he agreed to sell at about USD15.8/lb one week ago . "I concluded my latest sale early this week, when I sold six tons at around USD16.0/lb," said the trader, who received more inquiries from his clients over the past week but he plans to hold stocks for a while as he predicted that the prices still have room to go up in the forthcoming week.
The trader, with a typical monthly trading volume of 80t of cobalt metal 99.8%min, estimates to sell around 80t in March, without much change MoM . He sold around 200t so far in 2023, compared with approximately 1,000t in 2022 . He has around 150t of stocks now, without much change MoM.
. 8%min suppliers held back from selling and lifted prices over the past week . As a consequence, the current cobalt metal 99 . 8%min mainstream prices in Europe rose to USD16 . 1-16.5/lb in warehouse Rotterdam, up by around USD0.4/lb from one week ago . As sellers still delay selling, insiders forecasted that the cobalt metal 99 . 8%min mainstream prices in Europe would move up further in the upcoming week.
A European trader revealed that he lifts cobalt metal 99.8%min quotation to about USD16.5/lb in warehouse Rotterdam and refuse to accept any counteroffer now, while he considered selling at around USD16.0/lb one week ago . He last sold 10t at around USD15.7/lb early this month . "I noticed that some buyers and investment companies became active in purchasing, so we plan to keep increasing cobalt metal 99 . 8%min prices in the coming week," said the trader, who forecasted that the cobalt metal 99 . 8%min mainstream prices in Europe would go up further in the coming week as suppliers hold back from selling.
With a typical monthly trading volume of 150t of cobalt metal 99.8%min, the trader expects a sales volume of around 140t this month, without much change MoM . He sold approximately 1,800t and 350t respectively in 2022 and so far in 2023 . He holds an inventory of around 150t at present, in line with mid-February.
Another European trader noted that he quotes around USD16.5/lb in warehouse Rotterdam for cobalt metal 99 . 8%min and has intention to sell at about USD16.2/lb at present, while he agreed to sell at about USD15.8/lb one week ago . "I concluded my latest sale early this week, when I sold six tons at around USD16.0/lb," said the trader, who received more inquiries from his clients over the past week but he plans to hold stocks for a while as he predicted that the prices still have room to go up in the forthcoming week.
The trader, with a typical monthly trading volume of 80t of cobalt metal 99.8%min, estimates to sell around 80t in March, without much change MoM . He sold around 200t so far in 2023, compared with approximately 1,000t in 2022 . He has around 150t of stocks now, without much change MoM.