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
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.
. 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.