Cobalt metal prices in Europe down
2024-04-19 08:28:13 [Print]
BEIJING (Asian Metal) 19 Apr 24 - Under the weak demand of consumers and oversupply, the current mainstream prices of cobalt metal 99.8%min in Europe drop to USD12.4-12.6/lb in warehouse Rotterdam, down by about USD0.3/lb from late last week. The market remains very quiet and market participants hold bearish attitudes towards the price trend. As a consequence, insiders anticipate that the mainstream prices of cobalt metal in Europe would go down further in the coming week.
"We offer USD12.5/lb in warehouse Rotterdam for cobalt metal 99.8%min and could consider the price as low as USD12.4//lb today, while we quoted USD12.7/lb in warehouse Rotterdam and refused prices lower than USD12.6/lb late last week", noted a supplier in Europe, who sold 15t at USD12.5/lb today and 10t at USD12.6/lb late last week. The supplier discloses that European market sees oversupply this month, resulting in price decrease. Given the oversupply and reducing prices in China, they predict that the mainstream prices of European cobalt metal would go down in the coming week.
With a regular monthly trading volume of about 150t, they estimate to sell about 150t this month, up by about 20t MoM. They hold around 200t of stocks now.
"We get offers of cobalt metal 99.8%min ranging from USD12-14/lb in warehouse Rotterdam today, while our supplier offers USD14.3/lb in warehouse Rotterdam and the lowest price remained at USD12.3/lb late last week", said a consumer in Europe, adding that they bought 5t of cobalt metal 99.6%min at USD11.2/lb in warehouse Rotterdam for melting early this week and didn't buy late last week. Considering that suppliers have intention to decrease their prices further, the consumer expects that the prevailing prices of cobalt metal in Europe would show a downward trend in the next week.
With a regular monthly consumption volume of about 40t, the consumer anticipates to consume about 35t this month, in line with last month. They hold around 100t of stocks at present.
"We offer USD12.5/lb in warehouse Rotterdam for cobalt metal 99.8%min and could consider the price as low as USD12.4//lb today, while we quoted USD12.7/lb in warehouse Rotterdam and refused prices lower than USD12.6/lb late last week", noted a supplier in Europe, who sold 15t at USD12.5/lb today and 10t at USD12.6/lb late last week. The supplier discloses that European market sees oversupply this month, resulting in price decrease. Given the oversupply and reducing prices in China, they predict that the mainstream prices of European cobalt metal would go down in the coming week.
With a regular monthly trading volume of about 150t, they estimate to sell about 150t this month, up by about 20t MoM. They hold around 200t of stocks now.
"We get offers of cobalt metal 99.8%min ranging from USD12-14/lb in warehouse Rotterdam today, while our supplier offers USD14.3/lb in warehouse Rotterdam and the lowest price remained at USD12.3/lb late last week", said a consumer in Europe, adding that they bought 5t of cobalt metal 99.6%min at USD11.2/lb in warehouse Rotterdam for melting early this week and didn't buy late last week. Considering that suppliers have intention to decrease their prices further, the consumer expects that the prevailing prices of cobalt metal in Europe would show a downward trend in the next week.
With a regular monthly consumption volume of about 40t, the consumer anticipates to consume about 35t this month, in line with last month. They hold around 100t of stocks at present.
