Chinese buyers' appetite for imported cobalt metal is likely to shrink in the near future because domestic supply is increasing and there is little room for demand to increase, market participants told Fastmarkets.
Cobalt production in China is estimated to reach 9,300 tonnes in 2019, up 17% from last year, Zhanrong Kong, senior analyst from Antaike told delegates at Antaike's International Nickel & Cobalt Conference held in Yichang on November 5-6. Meanwhile, major suppliers in China are attempting to ramp up output in near term, according to a trader source on the sidelines of the event who estimates Chinese cobalt metal supply will rise to over 12,000 tonnes in 2020....