China Electrolytic Nickel Price - September 9, 2020

cobalt ore image Prices of cobalt and its related products maintain stability on September 9, 2020 as the market is in a stalemate with low trading. The raw material market is still worried that the output of main producing areas will be reduced under the epidemic, and the domestic purchasing and storage will affect the tightening of resource supply. 

On the demand side, the increase in production and sales of new energy vehicles is expected to drive the consumption of cobalt raw materials. The overall market expectation is strong. However, at present, due to the low support for overseas demand and limited market purchase and sales activity, short-term merchants mainly operate rationally.

Lithium prices have basically maintained stable. The raw material end is unwilling to negotiate prices under the support of stable costs. The demand of downstream terminal industries has recovered relatively slowly, and actual transaction volume and price keep stable.

The electrolytic nickel price declines slightly while ni-resist cast irons price edges higher. Indonesia banning mining, the rainy season in Philippines and the severe epidemic situation overseas are still affecting the supply of raw materials. The tight pattern of nickel ore has not changed, and traders are reluctant to sell their products. The demand for new energy and stainless steel further improves the fundamentals of the industry, supporting the firmness of the market. However, Indonesia's ferronickel production capacity has been under pressure for a long time. The industry is worried about the risk of falling from the current strong level, and operations are becoming more cautious.

Prices of cobalt, nickel and lithium products on September 9, 2020

electrolytic nickel price image

Picture of cobalt ore 

cobalt ore image

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