Metal Bulletin reported that due to maintenance, China’s Jinchuan Group International Resources Co. Ltd. (HKEX:2362) will reduce its cobalt output by half this month.

The move is expected to boost prices for the metal.

As quoted in the market news:

‘We can only supply 200 tonnes of cobalt metal in total this month, excluding exports, and only about 120-140 tonnes can be supplied to the domestic market,’ a company official said.

Click here to read the full Metal Bulletin report.