China's production of cobalt chloride amounted to 19,573 tonnes in March, experiencing a month-on-month increase of 13.92% and a year-on-year growth of 3.02%. In March, the prices of cobalt products moved up due to the impact of DRC's export ban. While demand showed gradual recovery, most enterprises maintained normal production. However, some leading smelters expanded their production, and other producers that had previously undergone technical upgrades or maintenance shutdowns resumed normal operations. These factors collectively contributed to an increase in March production.
Looking ahead to April, China's cobalt chloride production is likely to reach 17,500 tonnes, marking a MoM decrease of 20.73%. It is expected that the downstream centralized procurement may continue to be postponed in April, and the prices of cobalt chloride will be at a high level, while downstream users have limited acceptance to the current price, resulting in poor demand for cobalt chloride. It is likely that there will be a certain reduction in the production of cobalt chloride in April.
Source: Mysteel
Edited by Cassie Li, lixiangying@mysteel.com
