Ningbo Yanmen to reduce cobalt powder output
2023-04-27 08:28:50 [Print]
BEIJING (Asian Metal) 27 Apr 23 - As a major cobalt powder 99.5%min producer in Zhejiang province of China, Ningbo Yanmen Chemical Co. plans to reduce cobalt powder 99.5%min output by 20t MoM to about 10t in April 2023.
"Dragged by softened demand and sliding target prices from our clients, we would produce only around 10t of cobalt powder 99.5%min this month, while our output in last month reached about 30t," said a source from the company.
Established in 2022, Ningbo Yanmen Chemical Co. owns an annual production of 3,000t of cobalt powder 99.5%min. The company's outputs in 2022 and so far in 2023 recorded approximately 50t and 55t. It holds an inventory of around 10t at the moment, an increase of five tons MoM.
The current Chinese cobalt powder 99.5%min mainstream prices in Zhejiang province of China declined to RMB260-265/kg (USD37.5-38.3/kg) delivered D/A 180 days, down by around RMB5/kg (USD0.7/kg) from one week ago.
"Dragged by softened demand and sliding target prices from our clients, we would produce only around 10t of cobalt powder 99.5%min this month, while our output in last month reached about 30t," said a source from the company.
Established in 2022, Ningbo Yanmen Chemical Co. owns an annual production of 3,000t of cobalt powder 99.5%min. The company's outputs in 2022 and so far in 2023 recorded approximately 50t and 55t. It holds an inventory of around 10t at the moment, an increase of five tons MoM.
The current Chinese cobalt powder 99.5%min mainstream prices in Zhejiang province of China declined to RMB260-265/kg (USD37.5-38.3/kg) delivered D/A 180 days, down by around RMB5/kg (USD0.7/kg) from one week ago.
