Chinese cobalt sulfate posts modest rebound, but market remains wary

Having witnessing a decline since mid-November due to producers’ book-squaring needs in the run up to the end of year, Chinese cobalt sulfate prices posted a modest rebound ahead of the weekend last week after an earlier sell-off in the spot market dried up.

Fastmarkets assessed the Chinese domestic cobalt sulfate price at 66,000-71,000 yuan ($9,602-10,330) per tonne on Friday December 7, compared with 65,000-71,000 yuan per tonne on December 5.
Mainstream producers had held back from making offers to the spot market amid aggressive bids in an attempt to keep the floor for sales prices above 70,000 yuan per tonne, Fastmarkets learned from the market.

“The descent [in domestic cobalt prices] seems to have been curbed as major...

Published

Susan Zou

December 10, 2018

04:45 GMT

Shanghai