SMM

SHANGHAI, Jul 4 (SMM) – Cobalt sulphate prices exhibited a minor increase last week. This was influenced by the soaring prices of cobalt intermediate products at the raw material end, hence driving costs upwards. A number of Co3O4 and cathode precursor businesses bought raw materials due to rigid demand, thereby inflating cobalt sulphate prices. Supply-wise, news of recent stockpiling led to cobalt salt businesses quoting higher prices, making low-cost spot goods scarce in the market. Market forecasts suggest a continued slight upward trend in cobalt sulphate prices.