Hongchuan (Taihe) decreases cobalt powder production
2024-04-23 08:31:04 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Hongchuan (Taihe) Metal Co, a main producer of cobalt powder 99.5%min in China, decreases their output to about 5t in April, a source from the company discloses to Asian Metal.
"Dragged by weak demand of consumers, we plan to decrease our output of cobalt powder by around 5t MoM to about 5t this month", noted the source, adding that they expect to produce similar volume in May.
The producer, based on an annual production capacity of 240t, holds roughly 6t of stocks currently. They produced approximately 100t in 2023 and try to produce the same volume in 2024.
At present, the prevailing prices of Chinese cobalt powder 99.5%min stay at RMB195-200/kg (USD27.5-28.2/kg) delivered D/A 180 days, in line with late last week. As upstream producers intend to decrease prices, insiders predict that the mainstream prices of Chinese cobalt powder would show a downward trend this week.
"Dragged by weak demand of consumers, we plan to decrease our output of cobalt powder by around 5t MoM to about 5t this month", noted the source, adding that they expect to produce similar volume in May.
The producer, based on an annual production capacity of 240t, holds roughly 6t of stocks currently. They produced approximately 100t in 2023 and try to produce the same volume in 2024.
At present, the prevailing prices of Chinese cobalt powder 99.5%min stay at RMB195-200/kg (USD27.5-28.2/kg) delivered D/A 180 days, in line with late last week. As upstream producers intend to decrease prices, insiders predict that the mainstream prices of Chinese cobalt powder would show a downward trend this week.
