Chinese cobalt powder suppliers hold prices steady
2023-03-22 08:27:14 [Print]
BEIJING (Asian Metal) 22 Mar 23 - Supported by firm costs, Chinese cobalt powder 99.5%min suppliers held prices steady over the past week even though consumers purchased inactively. As a consequence, the Chinese cobalt powder 99.5%min mainstream prices stayed at RMB273-288/kg (USD39.7-41.9/kg) delivered D/A 180 days at present, in line with one week ago. Insiders forecasted that the Chinese cobalt powder 99.5%min mainstream prices would remain stable in the upcoming week as suppliers still have no intention to mark down prices.
A producer in South China disclosed that he quotes around RMB285/kg (USD41.5/kg) delivered D/A 180 days for cobalt powder 99.5%min and considers selling at around RMB280/kg (USD40.7/kg) at present, in line with one week ago. "I last sold one ton of cobalt powder 99.5%min at around RMB280/kg (USD40.7/kg) yesterday," said the producer. Although his clients purchase inactively, he refuses to lower prices as he couldn't purchase cobalt chloride 24%min at prices below RMB52,000/t (USD7,565/t) delivered D/A 180 days, the same as one week ago. He forecasted that the Chinese cobalt powder 99.5%min mainstream prices would continue hovering at current levels in the forthcoming week.
With an annual production capacity of 5,000t of cobalt powder 99.5%min, the producer produced approximately 3,500t and 820t respectively in 2022 and so far in 2023. As he has backlog of orders received in February, he expects to produce around 400t in March, compared with about 350t in February. He doesn't hold stock at the moment, unchanged MoM.
Another producer in South China noted that they still quote around RMB285/kg (USD41.5/kg) delivered D/A 180 days for cobalt powder 99.5%min and refuse to accept any counteroffer now, without much change from one week ago. "I concluded my latest sale yesterday, when he sold 300kg at around RMB285/kg (USD41.5/kg)," said the producer, who only received around three inquiries a day so far this week, while they could receive about 15 inquiries every day in late February. They have difficulties in purchasing cobalt powder 99.5%min at about RMB52,000/t (USD7,565/t) delivered D/A 180 days at present, the same as one week ago. In view of suppliers' steady costs, they forecasted that the Chinese cobalt powder 99.5%min mainstream prices would remain stable in the forthcoming week.
The producer, with an annual production capacity of 1,500t of cobalt powder 99.5%min, expects to produce around 65t this month as they have backlog of orders received in February. They produced about 50t last month. He produced about 140t so far this year, compared with approximately 520t last year. They hold an inventory of around five tons now, without much change MoM.
A producer in South China disclosed that he quotes around RMB285/kg (USD41.5/kg) delivered D/A 180 days for cobalt powder 99.5%min and considers selling at around RMB280/kg (USD40.7/kg) at present, in line with one week ago. "I last sold one ton of cobalt powder 99.5%min at around RMB280/kg (USD40.7/kg) yesterday," said the producer. Although his clients purchase inactively, he refuses to lower prices as he couldn't purchase cobalt chloride 24%min at prices below RMB52,000/t (USD7,565/t) delivered D/A 180 days, the same as one week ago. He forecasted that the Chinese cobalt powder 99.5%min mainstream prices would continue hovering at current levels in the forthcoming week.
With an annual production capacity of 5,000t of cobalt powder 99.5%min, the producer produced approximately 3,500t and 820t respectively in 2022 and so far in 2023. As he has backlog of orders received in February, he expects to produce around 400t in March, compared with about 350t in February. He doesn't hold stock at the moment, unchanged MoM.
Another producer in South China noted that they still quote around RMB285/kg (USD41.5/kg) delivered D/A 180 days for cobalt powder 99.5%min and refuse to accept any counteroffer now, without much change from one week ago. "I concluded my latest sale yesterday, when he sold 300kg at around RMB285/kg (USD41.5/kg)," said the producer, who only received around three inquiries a day so far this week, while they could receive about 15 inquiries every day in late February. They have difficulties in purchasing cobalt powder 99.5%min at about RMB52,000/t (USD7,565/t) delivered D/A 180 days at present, the same as one week ago. In view of suppliers' steady costs, they forecasted that the Chinese cobalt powder 99.5%min mainstream prices would remain stable in the forthcoming week.
The producer, with an annual production capacity of 1,500t of cobalt powder 99.5%min, expects to produce around 65t this month as they have backlog of orders received in February. They produced about 50t last month. He produced about 140t so far this year, compared with approximately 520t last year. They hold an inventory of around five tons now, without much change MoM.
