The quotation of foreign media continued to decline, gradually moving closer to domestic prices, but domestic prices continued to decline with the sluggish demand, and the internal and external price gaps always existed. In addition, since May, the environmental storm has struck, and most of the two smelters in Jiangxi and Jiangsu have been affected by the suspension of production and production. However, under the influence of inventory and demand, the support for stopping the decline is also very limited. SMM believes that the core point affecting price movements in the near future is the game between inventory and demand.
Electrolytic cobalt: This week, the foreign media's decline has expanded, which has hit the confidence of speculators. The domestic speculative market has set off another round of panic and slump, and the spot price spread has further widened. The sales pressure of domestic producers is obvious. Although the mainstream two manufacturers have not lowered their quotations, the direct downstream demand side purchases are avoided. Just a small amount of purchases are mainly traders, and the overall market performance is sluggish. The spot still has expectations. The price of SMM electrolytic cobalt is 56.00-59 million yuan / ton, and the average price is 15,000 yuan / ton lower than last week.
Cobalt salt and nickel salt: The price of cobalt in the medium and foreign media was greatly reduced in the week. The domestic cobalt salt spot transaction did not respond, and the market continued to be deserted. On the one hand, internal and external prices continue to be upside down, foreign media is down, and internal and external disc price corrections are within the expectations of market participants. On the other hand, the supply side has already carried out a large number of transaction receipts in the early stage, and the inventory level of cobalt salt finished products has been further reduced. Recently, due to environmental protection inspections, many smelters in Jiangxi and Jiangsu have stopped production and reduced production, and stopped quoting. The mid-month plus the holiday is near, and the trading of both parties is lacking. The price of SMM cobalt sulfate is 11.50-12 million yuan / ton, and the average price is unchanged from last week. The current price of SMM cobalt chloride is 13.20-13.70 million yuan / ton, and the average price is down 0.3 million yuan / ton from last week. The price of SMM nickel sulfate is 27000.00-29000.00 yuan / ton, and the average price is unchanged from last week.
Cobalt Tetraoxide: The trading price of cobalt has declined further on Thursday, but the volume of trading is not large. Although the downstream lithium cobalt oxide manufacturers have not much stock of raw materials, the willingness to reserve strategic stocks is not strong, and they are only purchased on demand. The current price of SMM cobalt trioxide is 44.00-45.00 million yuan / ton, and the average price is 10,000 yuan / ton lower than last week.
Cobalt oxide: This week, the market for cobalt oxide is relatively deserted, and the downstream has a wait-and-see attitude, and the willingness to purchase is not strong. The current price of SMM cobalt oxide is 41.00-42 million yuan / ton, and the average price is 10,000 yuan / ton compared with last week.
The trading price of the cobalt powder market was flat this week, but as the environmental inspections affected downstream demand, and the cobalt price was still in the decline channel, it is expected that there will be some downward pressure on the cobalt powder market. The price of SMM cobalt powder is 69.00-70000 yuan / ton, and the average price is unchanged from last week.
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