Cobalt Prices Near Bottom

MetalBulletin reported that China’s cobalt market is sinking lower as producers cut production due to low prices and tight raw material supply.

As quoted in the market news:

While most major Chinese producers have long-term contracts for concentrate or intermediates for raw material supply, some are now buying cobalt chloride to save costs.

A major cobalt chemical producer stated:

Almost all of the companies that can only use cobalt concentrate for production have stopped output.

Click here to read the full report.