Cobalt,nickel,copper salt suppliers---Yihua Chemical Co., LtdCobalt Nickel Supplier--Yihua Chemical Co., Ltd

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Global Cobalt Market Slump Continues

   Last Friend, Metals News offered Cobalt 99.8% at $13(down 0.2)-$14.1(down0.3)/lb, the high and low amplitude has been reduced compared with the previous trading day; Cobalt 99.3% at $12.5(down 0.1)-$ 13.5(down0.1)/lb, remain the same as the previous trading day; Cobalt concentrate 8% CIF China main ports at $ 10-10.3/lb, flat compared with the previous trading day. International Cobalt market’s downturn persists and MB Cobalt keeps slipping, has set a new low, breaking the low records continuously.
   Currently, domestic Cobalt market remains downward weakly. But the continuous falling market did not boost the market and stimulate purchase. It is said that most of the factories are currently on-demand procurement in the Cobalt ore raw material market. In May, the import of Cobalt concentrate has decreased sharply by 18.2%.
   Today, mainstream quotation of Cobalt in domestic market is at: 22-23.5 million/ton; The market responded that Cobalt Oxide strike price was as low as 160,000 yuan/ton. The demand has slowed down. Many manufacturers cut or stopped the production. This Cobalt salts market is also low-cost hovering. Ceramics and Lithium battery industry entered into the off-season and the demand is weak. Cobalt Sulphate was quoted at 41000-44000 yuan/ton. Cobalt series products’ price continued to decline to touch its lowest point of these three years.
Cobalt’s price is slipping in the market at home and abroad. This make the manufacturers reduced even stopped production. But cheap supply did not stimulated the downstream purchasers’ procurement. A serious imbalance between supply and demand occurred in Cobalt market. Macroeconomics is not ideal. It is estimated that the Cobalt price’s recover need some time.


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