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SHANGHAI, Apr 13 (SMM) – China's demand for cobalt this year is expected to increase by 2,200 mt in metal content, according to Hong Lu, SMM senior analyst.

There is no apparent shortage in the global cobalt market, but spot supply is hardly in surplus due to speculative inventories, Hong said at the SMM CoLiNi Summit on Friday April 13 in Quzhou, Zhejiang province.

While domestic cobalt price rise was partly influenced by the overseas market, Hong said cobalt sulphate prices in China are expected to stay firm with increasing demand from the new-energy vehicle industry.