Chinese cobalt metal price down, traditional brands lose market share

摘要

The cobalt metal price in China edged lower mid-week, pressured by the overall bearish sentiment toward the cobalt market’s outlook following an industry event last week.Fastmarkets assessed the Chinese cobalt metal price at 410,000-430,000 yuan per tonne ($23.10-24.22) per lb, China VAT-free, on Wednesday November 14, down 4.5% from 430,000-450,000 yuan per tonne previously.“Following the event last week, the overall sentiment remained weak. The news that Glencore suspended the sale of materials from [Kamoto Copper Company] (KCC) didn’t help much to lift up the sentiment,” a first trader said.