Will cobalt prices fall in the second half of 2018?

In the first half of 2018, China cobalt raw materials imported about 39400 tons of metal, rose 27.5%, year-on-year growth is 12%, cobalt ore 7800 tons, rose 101%, year-on-year growth is 87%; cobalt wet smelting products 31600 tons, rose 17%, and it is up 2% compared from a year earlier.

According to SMM research, in the first half of 2018 China's three yuan material production of 64000 tons of tons of objects, corresponding to 08000 tons of metal cobalt consumption; Cobalt acid lithium production 27000 tons, 16000 tons of metal cobalt consumption. Besides li-ion battery anode, 06000 tons of metal cobalt powder and electrolytic cobalt consumption.

Total consumption in the first half of 2018 tonnes of cobalt raw materials, raw materials and refining cobalt raw materials inventory incremental tons 09400 tons of metal. Considering that in 2017 China cobalt imported 69000 tons of raw materials, consumption of 57500 tons, 11500 tons of inventory incremental. Since 2017, we have inventory incremental has amounted to 21000 tons. Cobalt raw materials price is expected to decline further.

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