Price:
|
|
|
(Unit: Yuan/t) |
Product |
2024/5/31 |
2024/5/30 |
Change |
Electrolytic cobalt |
199,000-256,000 |
206,000-256,000 |
-3,500 |
Cobalt powder |
202,000-210,000 |
200,000-205,000 |
3,500 |
Cobalt carbonate |
82,000-86,000 |
82,000-86,000 |
0 |
Cobalt sulfate |
31,000-32,500 |
31,000-32,500 |
0 |
Cobalt chloride |
38,000-39,000 |
38,000-39,000 |
0 |
Cobalt Co3O4 |
126,000-129 ,000 |
126,000-129 ,000 |
0 |
Cobalt oxide |
125,000-130,000 |
125,000-130,000 |
0 |
Outlook:
The high prices of MHP provided strong support for the cost side, but the downstream demand was still weak, coupled with limited overseas market support for the domestic spot market sentiment. Meaawhile, some traders lowered the price to test the market and both buyers and sellers were in a stalemate game state. If there are no new influencing factors involved, it is expected that the cobalt salt price range will be stable. It is estimated that the market price of cobalt sulfate will be around Yuan 31,500/t, and that of cobalt chloride will be around Yuan 38,500/t.
Stimulated by the previous increase in electrolytic cobalt prices, cobalt oxide smelters have slightly increased their quotations last week. However, due to insufficient downstream demand and the rebound in electrolytic cobalt prices, making it difficult to boost short-term high prices. At present, both buyers and sellers mostly held a wait-and-see attitude, with rigid-demand purchases and smelting enterprises cautiously raising prices. It is expected that the market will operate steadily in early June. It is estimated that the market price of Co3O4 will be around Yuan 128,000/t and that of cobalt oxide will be around Yuan 127,000/t.
Edited by Cassie Li, lixiangying@mysteel.com