Cobalt prices in Shanghai fell 6 percent on the week (01 Jun 2009 – 05 Jun 2009), the third consecutive weekly decline, on abundant supply following high-volume imports of the metal.

Cobalt, used to make batteries, was quoted in the range of 278,000-288,000 yuan ($40,680-$42,150) per tonne on Friday, down nearly 12 percent from a month earlier.

"China has imported large amounts of cobalt from Zambia and other countries in the past few months, and there is a plentiful supply in the market," said a Shanghai-based trader.

But she added that prices were expected to stabilise as domestic producers were unwilling to sell at prices below their production costs.

Industry sources said Beijing was considering reducing the export tax on indium, a key raw material in liquid crystal display screens, to halt smuggling.

"It's likely to be announced within this month. We don't know at this point how much the cut will be," said a Hunan-based trader.

Indium prices fell 1 percent on the week to 1,950-2,050 yuan per tonne.

Following is a table of minor metals prices in China as of June 5.

METAL GRADE UNIT PRICE CHANGE ON WEEK
(yuan) (yuan) (pct)

Magnesium ingot 99.95 Tonne 15,900-16,100 -300 -2
Antimony ingot 99.85 Tonne 31,500-32,000 500 2
Antimony ingot 99.65 Tonne 32,000-32,500 500 2
Antimony ingot 99.91 Tonne 31,000-31,500 500 2
Manganese 99.80 Tonne 13,200-13,400 -100 -1
Manganese 95-98 Tonne 13,800-14,200 -250 -2
Cadmium ingot, bar 99.995 Tonne 30,000-31,500 -250 -1
Cadmium ingot, bar 99.99 Tonne 29,000-30,000 -250 -1
Cobalt 99.60 Tonne 278,000-288,000 -17,000 -6
Bismuth 99.99 Tonne 86,000-89,000 -1,000 -1
Chromium 99.20 Tonne 57,000-59,000 0 0
Titanium sponge 99.60 Kg 50-54 0 0
Zirconium sponge 99.00 Kg 170-190 0 0
Silicon 98-99.70 Tonne 9,400-14,000 -100 -1
Indium 99.99 Kg 1,950-2,050 -25 -1
Tungsten bar 99.50 Kg 220-260 0 0
Calcium 98.50 Tonne 38,000-40,000 0 0
Selenium ingot 99.99 Kg 500-540 0 0
Selenium ingot 99.90 Kg 420-450 0 0
Selenium powder 99.99 Kg 430-480 0 0
Selenium powder 99.90 Kg 380-410 0 0
Potassium 98.00 Tonne 128,000-132,000 0 0
Sodium 98.00 Tonne 105,000-108,000 0 0
Niobium(Columbium) 98.00 Kg 600-700 0 0
Vanadium 99.50 Kg 2,600-2,800 0 0
Hafnium 99.00 Kg 5,000-6,000 0 0
Gallium 99.99 Kg 3,300-3,600 0 0
Beryllium 98.00 Kg 6,000-6,500 0 0
Molybdenum 98.00 Kg 255-290 0 0
Lithium 99.00 Tonne 380,000-450,000 0 0
Tellurium 99.99 Kg 1,130-1,220 -10 -1
Germanium ingot 50 Ohms/cm Kg 6,600-6,800 -450 -7
Rhenium 99.99 Kg 60,000-65,000 -5,000 -8
Arsenic 99.50 Tonne 7,800-8,800 0 0
($1=6.833 Yuan)