Europe cobalt metal market sees firm prices
2023-03-24 10:18:27 [Print]
BEIJING (Asian Metal) 24 Mar 23 - The European cobalt metal 99.8%min market witnessed slow buying activities over the past week as buyers become inactive in replenishing stocks. However, suppliers held prices firm and refused to make concession. Therefore, the current cobalt metal 99.8%min mainstream prices in Europe stand steady at USD16.3-17.3/lb in warehouse Rotterdam, without much change from early this week. Insiders forecasted that the cobalt metal 99.8%min mainstream prices in Europe would continue hovering at current levels in the upcoming week as suppliers still have no intention to mark down prices.
A European trader revealed that he holds cobalt metal 99.8%min quotation firm at about USD17.5/lb in warehouse Rotterdam and considers selling at about USD17.3/lb at present, in line with early this week. He concluded his latest sale in mid-March, when he sold 10t at about USD17/lb. "I have confidence towards the cobalt metal 99.8%min demand outlook and have no intention to make concession on prices," said the trader, who forecasted that the cobalt metal 99.8%min mainstream prices in Europe would not change much in the forthcoming week.
The trader, with a typical monthly trading volume of around 10t of cobalt metal 99.8%min, expects to sell around 25t in March, unchanged MoM. He sold approximately 120t and 60t respectively in 2022 and so far in 2023. He holds an inventory of around five tons at present, without much change MoM.
Another European trader noted that he holds cobalt metal 99.8%min quotation firm at about USD16.5/lb in warehouse Rotterdam and considers selling at around USD16.3/lb at the moment, the same as one week ago. He last sold two tons at around USD16.3/lb yesterday. "Although my clients delay purchasing in bulk, I have no intention to lower prices due to my steady stock costs," said the trader, who predicted that the cobalt metal 99.8%min mainstream prices in Europe would continue hovering at current levels in the forthcoming week as suppliers refuse to mark down prices.
With a typical monthly trading volume of 125t of cobalt metal 99.8%min, the trader sold approximately 1,500t and 400t last year and so far this year. He estimates to sell about 130t so far this year, without much change MoM. He holds an inventory of around 100t at the moment, in line with late February.
A European trader revealed that he holds cobalt metal 99.8%min quotation firm at about USD17.5/lb in warehouse Rotterdam and considers selling at about USD17.3/lb at present, in line with early this week. He concluded his latest sale in mid-March, when he sold 10t at about USD17/lb. "I have confidence towards the cobalt metal 99.8%min demand outlook and have no intention to make concession on prices," said the trader, who forecasted that the cobalt metal 99.8%min mainstream prices in Europe would not change much in the forthcoming week.
The trader, with a typical monthly trading volume of around 10t of cobalt metal 99.8%min, expects to sell around 25t in March, unchanged MoM. He sold approximately 120t and 60t respectively in 2022 and so far in 2023. He holds an inventory of around five tons at present, without much change MoM.
Another European trader noted that he holds cobalt metal 99.8%min quotation firm at about USD16.5/lb in warehouse Rotterdam and considers selling at around USD16.3/lb at the moment, the same as one week ago. He last sold two tons at around USD16.3/lb yesterday. "Although my clients delay purchasing in bulk, I have no intention to lower prices due to my steady stock costs," said the trader, who predicted that the cobalt metal 99.8%min mainstream prices in Europe would continue hovering at current levels in the forthcoming week as suppliers refuse to mark down prices.
With a typical monthly trading volume of 125t of cobalt metal 99.8%min, the trader sold approximately 1,500t and 400t last year and so far this year. He estimates to sell about 130t so far this year, without much change MoM. He holds an inventory of around 100t at the moment, in line with late February.
