Consumers cautious to purchase cobalt oxide

BEIJING (Asian Metal) 7 Aug 09 - Cobalt oxide price remains stable at around RMB245/kg (USD35.87/kg) in recent two weeks. Since the market has been stable for almost half a month and seems difficult to hike again while the price of cobalt cathode goes down slightly this week, more consumers choose to watch the market instead of purchasing more at the current level.
A consumer in Guangdong, with a consumption of about one to two tons of cobalt oxide, told Asian Metal that they still have enough stock at hand, so will not be hurried to purchase more this week. "Our suppliers informed us that it's difficult for the price to increase again in a short Commenting on their consumption of cobalt oxide, the source revealed to Asian Metal that they have used a bit more in July when the price of cobalt oxide also went up. They also plan to produce more ceramic glaze of cobalt series this month, probably about 5-10% more; however, as the price of cobalt oxide is fluctuating too frequently, they choose to purchase in smaller orders but more frequently.
At the same time, another consumer in Guangdong confirmed to Asian Metal that the price is stable at around RMB245/kg (USD35.87/kg) for cobalt oxide. "The price has been stable at the above level for about two weeks, and it is still difficult for us to sell ceramic glaze," said the source who consumes about one ton of cobalt oxide monthly.
Although the price of RMB245/kg (USD35.87/kg) is relatively low compared to the high level of RMB450/kg (USD65.89/kg) last year, the source chooses to be cautious this year since the general economic situation is still not so promising, although it is improving slightly.
As the price of cobalt cathode drops slightly this week, consumers also choose to watch the market of cobalt oxide, worrying that the price will also drop, though it might not be dramatic.