Cobalt prices are flat and expect CDI to indicate the direction of development

Abstract MB cobalt prices were stable last night, and market participants are looking forward to the CDI meeting held in Shanghai next week to judge the future development direction of the cobalt industry. Low cobalt is currently priced at $12.50-14/lb and high cobalt is at $12.90-14.10/lb. This week's transaction...
MB cobalt prices were stable last night, and market participants are looking forward to the CDI meeting held in Shanghai next week to judge the future direction of the cobalt industry.

Low cobalt is currently priced at $12.50-14/lb and high cobalt is at $12.90-14.10/lb.

This week's trading volume is limited, market participants are generally looking forward to the CDI meeting held in Shanghai next week to give some guidance to the market.

Most market participants believe that the current price has tended to be flat, but how to develop the market outlook is still not judged.

Some people believe that the Congo's export policy on cobalt concentrates and intermediates is still unclear, which also provides some support for the uncertain market prospects.

Negotiations on the export ban in the Congo continue, and most expect the ban to be postponed or cancelled, hoping to transfer the ban on exports to the regulation of export taxes.

One manufacturer said that it is difficult to imagine how the Congo will issue this ban and then consider the huge demand in the Chinese market. If it is really banned, the rules of the game will be completely changed. If China purchases commercial metal cobalt instead of cobalt concentrate, the amount of metal cobalt used will increase significantly.

But others believe that if this is the case, the trader's profit margin will be compressed, and it is difficult to judge how the market will develop.

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