Cobalt City Weekly Review: Congo's favorable overdraft market is bearish
2023-05-23 21:07:13
Abstract This week, the international market has been rumored about the Congo cobalt export policy. There is an increase of 60 US dollars / lb of export tariffs, and an increase of 40 US dollars / lb of export tariffs, no final conclusion, and the original 90-day ban window is again Late until December 31st. The market's interest in the Congo...
This week, the international market has been rumored about the Congo cobalt export policy, with an increase of 60 US dollars / lb of export tariffs, but also an increase of 40 US dollars / lb of export tariffs, no final conclusion, and the original 90-day ban window period is delayed again Until December 31st. The market's favorable support for the Congo has been exhausted. In July, the summer vacation season in the Western countries, the market demand is weak, MB cobalt price down, the current high cobalt reported 14-15.2 US dollars / lb, low cobalt reported 13.6-14.8 US dollars / lb. The price of metallic cobalt in the domestic market has already loosened this week, and the market has been lowered before the international market. Zambian cobalt has been fine-tuned from 206 yuan/kg to 206 yuan/kg. Traders generally said that there are more goods in hand. It is already the traditional low season of the industry, and the demand will be further reduced. The market will inevitably be lowered.
The market for cobalt chemicals was temporarily stabilized. Due to the shortage of power in the Congo, shipments of TFM and Big Hill were limited. The supply of raw materials was tightening and the raw materials market was firm.
The domestic market generally followed the trend of the outer disk, the European market has been fatigued, and the possibility of price cuts increased this week.
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