Chinese cobalt metal prices steady
2024-04-29 08:11:59 [Print]
BEIJING (Asian Metal) 29 Apr 24 - As produces hold their prices stable, the mainstream prices of Chinese cobalt metal 99.8%min hover at RMB189-194/kg (USD26.1-26.7/kg) delivered D/P, without much change from this Thursday. Consumers buy normally this week as they the current prices have limited room to go down. However, given the reducing prices of cobalt salts, insiders predict that the mainstream prices of Chinese cobalt metal would go down after holiday.
A trader in North China got an offer at RMB190/kg (USD26.2/kg) delivered D/P with no concession today, the same as this Thursday. "We close no deal today and bought 5t at RMB190/ (USD26.2/kg) this Friday", said the trader, adding that this week's deals stay reasonable as consumers believe that the room for further price reductions remains limited, and they actively restock at normal levels. But given the reducing prices of cobalt sulfate, they predict that the mainstream prices of Chinese cobalt metal would go down after holiday.
With a regular monthly trading volume of about 20t, they estimate to sell about 30t this month, the same as last month. They hold around 6t in warehouse now.
"We offer RMB193/kg (USD26.6/kg) delivered D/P and refuse prices lower than RMB192/kg (USD26.5/kg) for cobalt metal 99.8%min today, in line with this Thursday", noted a trader in Shanghai, who closed no deal today and sold 10t at RMB192/kg (USD26.5/kg) on Thursday. The trader mentioned that this week, downstream customers purchase based on immediate needs. Some customers also stock up for May, as they consider the current price to be relatively safe. However, considering the dropping prices of cobalt salts, the trader anticipates that the prevailing prices of Chinese cobalt metal would move down slightly after holiday.
With a typical monthly trading volume of around 150t, they estimate to sell about 150t this month, the same as last month. They hold approximately 30t of stocks at the moment.
A trader in North China got an offer at RMB190/kg (USD26.2/kg) delivered D/P with no concession today, the same as this Thursday. "We close no deal today and bought 5t at RMB190/ (USD26.2/kg) this Friday", said the trader, adding that this week's deals stay reasonable as consumers believe that the room for further price reductions remains limited, and they actively restock at normal levels. But given the reducing prices of cobalt sulfate, they predict that the mainstream prices of Chinese cobalt metal would go down after holiday.
With a regular monthly trading volume of about 20t, they estimate to sell about 30t this month, the same as last month. They hold around 6t in warehouse now.
"We offer RMB193/kg (USD26.6/kg) delivered D/P and refuse prices lower than RMB192/kg (USD26.5/kg) for cobalt metal 99.8%min today, in line with this Thursday", noted a trader in Shanghai, who closed no deal today and sold 10t at RMB192/kg (USD26.5/kg) on Thursday. The trader mentioned that this week, downstream customers purchase based on immediate needs. Some customers also stock up for May, as they consider the current price to be relatively safe. However, considering the dropping prices of cobalt salts, the trader anticipates that the prevailing prices of Chinese cobalt metal would move down slightly after holiday.
With a typical monthly trading volume of around 150t, they estimate to sell about 150t this month, the same as last month. They hold approximately 30t of stocks at the moment.
