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JulianAssangeon Apr 12, 2017 2:16pm
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➡️China Cobalt Metal Price Sticks Amid Weak Demand⬅️
➡️China Cobalt Metal Price Sticks Amid Weak Demand⬅️ China’s cobalt metal price has been bogged down and weak demand from traditional downstream consumers continues to cap any rallies, despite international cobalt metal prices inching up in the past few weeks.
The China cobalt metal price was assessed at 400,000 to 430,000 yuan per tonne ($26.29-28.26 per lb) for six consecutive pricing sessions on Wednesday April 12. "Demand from traditional downstream users, such as catalyst and magnetic material producers, is still weak," one trader said. "We’ve been seeing more inquiries in April from traditional consumers, but only a few trades have been concluded," a second trader said. "Traditional consumers don’t have a big appetite and are less likely to purchase more than five tonnes at a time," the second trader added. Most market participants suggested that the blue metal needs momentum to go forward.
https://www.metalbulletin.com/Article/3709179/Search-results/China-cobalt-metal-price-sticks-amid-weak-demand.html