Cobalt metal prices in Europe level off
2023-04-07 10:08:56 [Print]
BEIJING (Asian Metal) 7 Apr 23 - As buyers became inactive in purchasing, European cobalt metal 99.8%min sellers failed to lift prices further and held prices steady over the past week. The current cobalt metal 99.8%min mainstream prices in Europe stand at USD16.5-17.0/lb in warehouse Rotterdam, the same as one week ago. Given consumers' wait-and-see attitudes, insiders forecasted that the cobalt metal 99.8%min mainstream prices in Europe would slide a bit in the coming week.
A European trader revealed that he holds cobalt metal 99.8%min quotation firm at around USD17.2/lb in warehouse Rotterdam and considers selling at about USD16.9/lb at present, without much change from one week ago. "I last sold two tons at around USD16.9/lb late last week," said the trader, who failed to receive any inquiries over the past week. Given that buyers hold wait-and-see attitudes, he considers accepting a bit price declines in the coming week and forecasted that the cobalt metal 99.8%min mainstream prices in Europe would go down by around USD0.2/lb in the upcoming week.
The trader, with a typical monthly trading volume of 100t of cobalt metal 99.8%min, expects to sell around 70t in April, down by 20t MoM. He sold about 230t so far in 2023, compared with approximately 1,000t in 2022. He holds an inventory of around 150t at present, in line with one month ago.
Another European trader noted that he still quotes around USD17.0/lb in warehouse Rotterdam for cobalt metal 99.8%min and has intention to sell at about USD16.5/lb now, in line with one week ago. He concluded his latest sale early this week, when he sold two tons at around USD16.5/lb. "My clients delayed purchasing, so I failed to get any inquiries after my last sale," said the trader, who lacks confidence towards the cobalt metal 99.8%min demand trend in the coming week and forecasted that the cobalt metal 99.8%min mainstream prices in Europe would go down in the forthcoming week.
With a typical monthly trading volume of 150t of cobalt metal 99.8%min, the trader sold approximately 1,500t and 450t respectively last year and so far this year. He expects to sell about 120t this month, down by around 30t MoM. He has around 100t of stocks at the moment, without much change from early March.
A European trader revealed that he holds cobalt metal 99.8%min quotation firm at around USD17.2/lb in warehouse Rotterdam and considers selling at about USD16.9/lb at present, without much change from one week ago. "I last sold two tons at around USD16.9/lb late last week," said the trader, who failed to receive any inquiries over the past week. Given that buyers hold wait-and-see attitudes, he considers accepting a bit price declines in the coming week and forecasted that the cobalt metal 99.8%min mainstream prices in Europe would go down by around USD0.2/lb in the upcoming week.
The trader, with a typical monthly trading volume of 100t of cobalt metal 99.8%min, expects to sell around 70t in April, down by 20t MoM. He sold about 230t so far in 2023, compared with approximately 1,000t in 2022. He holds an inventory of around 150t at present, in line with one month ago.
Another European trader noted that he still quotes around USD17.0/lb in warehouse Rotterdam for cobalt metal 99.8%min and has intention to sell at about USD16.5/lb now, in line with one week ago. He concluded his latest sale early this week, when he sold two tons at around USD16.5/lb. "My clients delayed purchasing, so I failed to get any inquiries after my last sale," said the trader, who lacks confidence towards the cobalt metal 99.8%min demand trend in the coming week and forecasted that the cobalt metal 99.8%min mainstream prices in Europe would go down in the forthcoming week.
With a typical monthly trading volume of 150t of cobalt metal 99.8%min, the trader sold approximately 1,500t and 450t respectively last year and so far this year. He expects to sell about 120t this month, down by around 30t MoM. He has around 100t of stocks at the moment, without much change from early March.
