Hunan Yacheng reduces cobalt tetroxide output
2023-04-12 08:31:34 [Print]
BEIJING (Asian Metal) 12 Apr 23 - Hunan Yacheng New Energy Co., a major cobalt tetroxide 73.5% producer in Hunan, China, reduced its cobalt tetroxide 73.5% output by about 30t to around 90t in March 2023, according to a source from the company.
"On account of weak demand from buyers and dropping prices, we only produced about 90t of cobalt tetroxide 73.5% in March, while our production in February recorded around 120t," said the source, who expects an output of about 70t in April.
Established in 2007, Hunan Yacheng New Energy Co. owns an annual production capacity of 8,400t of cobalt tetroxide 73.5%. The company's outputs in 2022 and so far in 2023 recorded approximately 2,800t and 340t respectively. It holds an inventory of around 60t at present, in line with one month ago.
Dragged by soft demand from consumers, the current Chinese cobalt tetroxide 73.5% mainstream prices in Hunan, China dropped to RMB158-163/kg (USD22.9-23.7/kg) delivered D/A 180 days, down by around RMB10/kg (USD1.5/kg) from one week ago.
"On account of weak demand from buyers and dropping prices, we only produced about 90t of cobalt tetroxide 73.5% in March, while our production in February recorded around 120t," said the source, who expects an output of about 70t in April.
Established in 2007, Hunan Yacheng New Energy Co. owns an annual production capacity of 8,400t of cobalt tetroxide 73.5%. The company's outputs in 2022 and so far in 2023 recorded approximately 2,800t and 340t respectively. It holds an inventory of around 60t at present, in line with one month ago.
Dragged by soft demand from consumers, the current Chinese cobalt tetroxide 73.5% mainstream prices in Hunan, China dropped to RMB158-163/kg (USD22.9-23.7/kg) delivered D/A 180 days, down by around RMB10/kg (USD1.5/kg) from one week ago.
