Cobalt tetroxide price continues to drop
2012-11-21 08:39:51 [Print]
BEIJING (Asian Metal) 21 Nov 12 – Market insiders reported that mainstream price of cobalt tetroxide continues to drop to about RMB155-160/kg (USD24.64-25.44/kg), down by around RMB3/kg (USD3.2/kg) compared with that of a week ago. Most market participants hold pessimistic attitudes towards the future market and think that there is little chance for cobalt tetroxide price to turn around in the rest of November.
A producer in Guangdong shared with Asian Metal that cobalt tetroxide price keeps going down with the decreasing prices of cobalt concentrates and cobalt chloride. According to him, their concluded price of cobalt tetroxide is about RMB155-156/kg (USD24.64-24.80/kg), decreasing by around RMB3/kg (USD0.48/kg) than that of a week ago. “During the past days of 2012, cobalt tetroxide price fluctuated between RMB160/kg (USD25.44/kg) and RMB185/kg (USD29.41/kg). It can be said that the price is relatively stable, and most consumers do not want to build high stock and only buy from hand to mouth,” said the source.
Commenting on the future market, he said that many cobalt tetroxide producers continue to expand output, so he think competition among suppliers will become fiercer and cobalt tetroxide price is expected to go down further.
A consumer in Hunan revealed that they do not make procurement in recent half a month as demand from lithium battery industry is not strong, while supply of cobalt tetroxide is ample. He reported that his target price of cobalt tetroxide is RMB150/kg (USD23.85/kg) and he plans to buy some raw materials in the near future.
At the same time, consumers press down lithium cobalt oxide price and some deals of lithium cobalt oxide are concluded at about RMB175/kg (USD27.82/kg) now.
A producer in Guangdong shared with Asian Metal that cobalt tetroxide price keeps going down with the decreasing prices of cobalt concentrates and cobalt chloride. According to him, their concluded price of cobalt tetroxide is about RMB155-156/kg (USD24.64-24.80/kg), decreasing by around RMB3/kg (USD0.48/kg) than that of a week ago. “During the past days of 2012, cobalt tetroxide price fluctuated between RMB160/kg (USD25.44/kg) and RMB185/kg (USD29.41/kg). It can be said that the price is relatively stable, and most consumers do not want to build high stock and only buy from hand to mouth,” said the source.
Commenting on the future market, he said that many cobalt tetroxide producers continue to expand output, so he think competition among suppliers will become fiercer and cobalt tetroxide price is expected to go down further.
A consumer in Hunan revealed that they do not make procurement in recent half a month as demand from lithium battery industry is not strong, while supply of cobalt tetroxide is ample. He reported that his target price of cobalt tetroxide is RMB150/kg (USD23.85/kg) and he plans to buy some raw materials in the near future.
At the same time, consumers press down lithium cobalt oxide price and some deals of lithium cobalt oxide are concluded at about RMB175/kg (USD27.82/kg) now.
Cobalt Tetroxide 73.5%min Delivered China
Unit:RMB/kg
China cobalt tetroxide producers' output statistics by province by month
Unit: mt
