Electron Energy's cobalt metal consumption decreases
2023-04-07 11:05:29 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Electron Energy Corporation, one of the major SmCo magnet producers in United States, consumed around three tons of cobalt metal 99.8%min in Q1 of 2023, a decline of about one ton QoQ, according to a source from the company.
"Dragged by reducing demand of our SmCo magnet from our end users, we consumed only around three tons of cobalt metal 99.8%min in this Q1, compared with about four tons in Q4 of 2022," said the source.
With an annual consumption capacity of 24t, Electron Energy Corporation consumed about 15t of and three tons of cobalt metal 99.8%min in 2022 and so far in 2023. The company expects to use around one ton in April, without much change MoM. It holds an inventory of around 30t now, up by 10t MoM.
The current cobalt metal 99.8%min mainstream prices in United States hover at USD17.5-18.2/lb in warehouse Baltimore now, without much change from early this week.
"Dragged by reducing demand of our SmCo magnet from our end users, we consumed only around three tons of cobalt metal 99.8%min in this Q1, compared with about four tons in Q4 of 2022," said the source.
With an annual consumption capacity of 24t, Electron Energy Corporation consumed about 15t of and three tons of cobalt metal 99.8%min in 2022 and so far in 2023. The company expects to use around one ton in April, without much change MoM. It holds an inventory of around 30t now, up by 10t MoM.
The current cobalt metal 99.8%min mainstream prices in United States hover at USD17.5-18.2/lb in warehouse Baltimore now, without much change from early this week.
