Molybdenum News Center

Lithium Cobalt Oxid Price - September 4, 2020

China cobalt price maintained stability in the week ended on Friday September 4, 2020 with different views for the market outlook. Some traders believed the supply will support the market as they have high expects for the fourth quarter’s purchasing and storage and the impact of the epidemic on raw material imports. 

However, the production of raw materials in Africa has increased in fact and terminal demand followed the market slowly, resulting in profit-making mentality of some traders. In the short term, insiders will wait for the next move in the market. 

The price of lithium was stable on the whole this week as the market was in a stalemate. Lithium cobalt oxid price rose slightly. Although merchants were unwilling to reduce prices with the support of costs, the pressure of oversupply was difficult to alleviate in the short term. Domestic and European new energy markets have exploded and consumption of raw lithium products has increased. At present, the market has a strong willingness to rebound and waits for further real demand to follow up

Electrolytic nickel and ni-resist cast irons prices kept frim as suppliers has strong rised mentality thanks to reduced iron and nickel outputs in the Philippines in the off season and tight supply as a result of Indonesia's ban on nickel production. Moreover, the good recovery momentum of the domestic economy has led to the strengthening of macro funds; the increase in the production and sales of downstream stainless steel and new energy vehicles has driven the recovery of demand. In the short term, the price of nickel is expected to be strong.

Prices of cobalt, nickel and lithium products on September 4, 2020

Picture of cobalt powder 

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