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Low-grade cobalt prices have fallen from the previous 18.50-20 USD/lb to 18.25-19.50 USD/lb, and the high-grade fixed price has remained stable.
A supplier said: "Since last Friday we have not produced much goods, the spot transaction volume is small, and the market is executing the order contract."
A trader said: "The long-term lack of market transactions has increased the price of consumer bargaining by a lot of weight, and the enquiry is scarce. Consumers are faintly moving the price to slide down."
One producer said that we have been in stock before the end of the year. China News reported that many of their products and intermediate goods contain cobalt raw materials, so I am not too worried.
But another source active in the cobalt concentrate market said, "China has a lot of inventory, but I don't know how much it is. If it is as much as people say, then the possibility of Chinese consumers coming to find goods abroad is Very small.
The second producer sold some of the crushed cathode cobalt at $19.60 per pound last week. He said that the pressure on cobalt is inevitable now. We don’t have much inventory. It is not expected until the end of October and November. Quoted out.
Traders expressed doubts about the low stocks that producers said. "I sent inquiries to many manufacturers, but they all said that the goods have been sold out. If I ask them to buy 20 tons of goods, I think they will stand out. goods."
Demand is not strong, European cobalt prices continue to decline
As the current market is mainly implementing long-term orders, the spot demand is less, the market turnover is not prosperous, and the price of cobalt ingots continued to decline on October 13.