back LME WEEK: Raw Material Tightness the Talk of Cobalt Market, Despite Chinese Liquidation
October 22, 2014 | Category: Cobalt News
LME WEEK: Raw material tightness the talk of cobalt market, despite Chinese liquidationCobalt market participants are anticipating further raw material tightness in 2015, as supplies from ENRC and Freeport become more limited, sources in London said this week.
"Forget nickel, forget aluminium, cobalt is the talk of this week. There's just not going to be enough raw materials," one minor metals trader said.
The cobalt metal market remains well-supplied in comparison to the cobalt intermediate market, on which Chinese cobalt salt makers are dependent.
This is due to a reduction of available intermediate supplies coming from the DRC to operations in China.
ENRC will halt production of cobalt oxide concentrates in December 2014, earlier than many had expected, according to sources at LME Week in London.
The company produces around 250tpm, but this volume will be around 50% lower by December, and from then on, no oxide concentrates will be produced, sources said.
Fleur Ritzema
[email protected]
Twitter: FleurRitzema_MB
The cobalt metal market remains well-supplied in comparison to the cobalt intermediate market, on which Chinese cobalt salt makers are dependent.
This is due to a reduction of available intermediate supplies coming from the DRC to operations in China.
ENRC will halt production of cobalt oxide concentrates in December 2014, earlier than many had expected, according to sources at LME Week in London.
The company produces around 250tpm, but this volume will be around 50% lower by December, and from then on, no oxide concentrates will be produced, sources said.
Metal Bulletin is a paid subscription service so please share this content using the link below.
Follow us: @metalbulletin on TwitterFleur Ritzema
[email protected]
Twitter: FleurRitzema_MB