Shanghai Greatpower plans to increase output of cobalt metal
2024-03-20 08:34:43 [Print]
BEIJING (Asian Metal) 20 Mar 24 - Shanghai Greatpower Technology Co, a main producer of cobalt metal 99.8%min in Shanghai, plans to increase their output this month, a source from the company revealed to Asian Metal.
"Owing to holiday of Spring Festival, we only produced about 100t in February, however, our production resumed in March, with an increase of about 60t MoM", said the source, adding that their consumers still buy from hand to mouth and have little intention to restock today.
The producer, based on an annual production capacity of 2,500t, expects to produce about 160t this month, up by about 60t MoM. Holding no stock for the time being, they produced about 1,800t in 2023 and expect to produce about 2,000t in 2024.
Today, the mainstream prices of Chinese cobalt metal 99.8%min stand at RMB206-211/kg (USD28.7-29.4/kg) delivered D/P, up by about RMB3/kg (USD0.4/kg) from late last week. Given that producers prefer to hold their prices stable, insiders anticipate that the prevailing prices of Chinese cobalt metal would not change much later this week.
"Owing to holiday of Spring Festival, we only produced about 100t in February, however, our production resumed in March, with an increase of about 60t MoM", said the source, adding that their consumers still buy from hand to mouth and have little intention to restock today.
The producer, based on an annual production capacity of 2,500t, expects to produce about 160t this month, up by about 60t MoM. Holding no stock for the time being, they produced about 1,800t in 2023 and expect to produce about 2,000t in 2024.
Today, the mainstream prices of Chinese cobalt metal 99.8%min stand at RMB206-211/kg (USD28.7-29.4/kg) delivered D/P, up by about RMB3/kg (USD0.4/kg) from late last week. Given that producers prefer to hold their prices stable, insiders anticipate that the prevailing prices of Chinese cobalt metal would not change much later this week.
