The price of cobalt metal goes down in Russia

BEIJING (Asian Metal) 16 Oct 08 - Sources revealed that the cobalt metal is sluggish due to weak demand. The price of cobalt metal 99.3%min falls to RUB2,500-2,600/kg (USD43.Asian Metal Copyright61-45.Asian Metal Copyright61-45.36/lb), down by around RUB100/kg (USD1.74/lb) compared with that of last week.Asian Metal Copyright3%min every month, revealed that the offers they reveived this week are around RUB2,500-2,550kg USD43.Asian Metal Copyright

A trader in Russia revealed that end-users are inactive in purchasing the materials this week, with few deals cconcluded in the market, and under the pressure of increasing inventories, most suppliers lower their offers to sell, so the price of cobalt metal 99.3%min decreases.Asian Metal Copyright74lb compared with that of last week.Asian Metal Copyright

The source said, "We did not conclude any deals this week as consumers are trying to press down the price." According to the source, most consumers want to purchase the materials at RUB2,500/kg (USD43.61/lb) this week, falling dramatically compared with that of last week.Asian Metal CopyrightThe source said, "We did not conclude any deals this week as consumers are trying to press down the price.Asian Metal Copyright

The source is pessimistic about the future cobalt metal market. "Most consumers are waiting for the price to bottom out, and refuse to purchase the materials in large volumes, so the market is qiuet in general," said the source, and he disclosed that most traders, who have purchased the materials at a higher price before, are unwilling to accept the low bids from consumers, but they have to sell the materials at a loss due to the low demand in the international market.Asian Metal CopyrightBEIJING Asian Metal 16 Oct 08 - Sources revealed that the cobalt metal is sluggish due to weak demand.Asian Metal Copyright

A consumer in Russia, who purcahses four tons of cobalt metal 99.3%min every month, revealed that the offers they reveived this week are around RUB2,500-2,550/kg (USD43.Asian Metal Copyright "Most consumers are waiting for the price to bottom out, and refuse to purchase the materials in large volumes, so the market is qiuet in general," said the source, and he disclosed that most traders, who have purchased the materials at a higher price before, are unwilling to accept the low bids from consumers, but they have to sell the materials at a loss due to the low demand in the international market.Asian Metal Copyright61-44.48/lb) this week, down by around RUB150/kg (USD2.62/lb) compared with that of last week.Asian Metal CopyrightThe source believes that with the financial crisis worsening, the price may go down further.Asian Metal Copyright "We do not plan to purchase the materials yet due to the falling trend of the price," said the source.Asian Metal Copyright48lb this week, down by around RUB150kg USD2.Asian Metal Copyright

The source believes that with the financial crisis worsening, the price may go down further.