YUAN DEVALUED: China's dollar-import-dependent cobalt producers want RMB price rises

In China’s cobalt sector, market participants are mulling price hikes because of the weakening yuan, yet they are still hesitant given the sluggish mood in the market.

A recent steep depreciation in the yuan indicates higher costs for many Chinese market participants, as they have been relying heavily on imported raw material and metal, which they pay for in dollars. This means some market participants are considering increasing their prices, though they may wait until negotiations for September contracts begin to instigate a hike. “We are considering price hikes, but not currently as we are still carrying out contracts signed for the current month...

Published

Linda Lin

August 12, 2015

12:58 GMT

Shanghai