Chinese cobalt chloride prices down slightly
2024-03-28 08:26:18 [Print]
BEIJING (Asian Metal) 28 Mar 24 - Under reducing prices of cobalt sulfate and market participants' bearish attitudes towards the price trend, the present mainstream prices of Chinese cobalt chloride 24%min went down to RMB39,000-39,500/t (USD5,397-5,467/t) delivered D/A 180 days, down by about RMB500/t (USD69.2/t) from late last week. The demand remains not bad recently and consumers place orders actively. However, given the downward prices of cobalt sulfate and oversupply, suppliers have intention to decrease their prices further and insiders predict that the prevailing prices of Chinese cobalt chloride would go down in the coming week.
A producer in Jiangsu offers RMB39,500/t (USD5,467/t) delivered D/A 180 days and could consider the price as low as RMB39,000/t (USD5,397/t) today, while they quoted RMB40,000/t (USD5,536/t) delivered D/A 180 days and refused prices lower than RMB39,500/t (USD5,467/t) late last week. "We sold 60t at RMB39,500/t (USD5,467/t) early this week and 90t at RMB40,000/t (USD5,536/t) late last week", noted the producer, adding that their consumers buy actively due to good demand of cobalt tetroxide. However, given the downward prices of cobalt sulfate, they predict that the mainstream prices of Chinese cobalt chloride would move down further in the upcoming week.
With an annual production capacity of 12,000t, they estimate to produce about 280t this month, while they produced about 70t last month. Holding about 100t in stock, they produced about 1,700t last year and hold an unsure attitude about the output this year.
"We refused prices lower than RMB39,000/t (USD5,397/t) delivered D/A 180 days for cobalt chloride 24%mim today, while we could consider the prices no less than RMB40,000/t (USD5,536/t) late last week", stated another producer in Jiangsu, who closed no deal from last week and last sold 1t of cobalt chloride 24.6%min at RMB50,000/t (USD6,920/t) delivered D/A 180 days about ten days ago. The producer disclosed that they got no inquiry this week, but their consumer inquired actively last week. However, considering the oversupply, they foresee that the prevailing prices of Chinese cobalt chloride would go down in the next week.
With an annual production capacity of 5,000t, the producer estimates to produce roughly 15t in March, while they had no output last month. They hold about 20t in the warehouse now.
A producer in Jiangsu offers RMB39,500/t (USD5,467/t) delivered D/A 180 days and could consider the price as low as RMB39,000/t (USD5,397/t) today, while they quoted RMB40,000/t (USD5,536/t) delivered D/A 180 days and refused prices lower than RMB39,500/t (USD5,467/t) late last week. "We sold 60t at RMB39,500/t (USD5,467/t) early this week and 90t at RMB40,000/t (USD5,536/t) late last week", noted the producer, adding that their consumers buy actively due to good demand of cobalt tetroxide. However, given the downward prices of cobalt sulfate, they predict that the mainstream prices of Chinese cobalt chloride would move down further in the upcoming week.
With an annual production capacity of 12,000t, they estimate to produce about 280t this month, while they produced about 70t last month. Holding about 100t in stock, they produced about 1,700t last year and hold an unsure attitude about the output this year.
"We refused prices lower than RMB39,000/t (USD5,397/t) delivered D/A 180 days for cobalt chloride 24%mim today, while we could consider the prices no less than RMB40,000/t (USD5,536/t) late last week", stated another producer in Jiangsu, who closed no deal from last week and last sold 1t of cobalt chloride 24.6%min at RMB50,000/t (USD6,920/t) delivered D/A 180 days about ten days ago. The producer disclosed that they got no inquiry this week, but their consumer inquired actively last week. However, considering the oversupply, they foresee that the prevailing prices of Chinese cobalt chloride would go down in the next week.
With an annual production capacity of 5,000t, the producer estimates to produce roughly 15t in March, while they had no output last month. They hold about 20t in the warehouse now.
