Cobalt sulfate discount narrows on strong domestic Chinese price amid declining cobalt benchmark

The Chinese domestic cobalt sulfate price has moved up due to tightened supply amid active restocking activities ahead of the Lunar New Year holiday from February 4-10.

Fastmarkets MB’s China cobalt sulfate, basis 20.5% Co, ex-works price rose to 66,000-68,000 yuan ($9,669-9,962) per tonne on Wednesday January 9, from 65,000-68,000 yuan per tonne previously.
Meanwhile, the accelerated downtrend in the international cobalt benchmark in December has extended into January as a result of greater cobalt availability in Europe.
Fastmarkets MB assessed the standard-grade cobalt price at $24.75-26.25 per lb on January 9, dropping from $25.75-27.25 per lb last Friday.

Therefore, the discount that the cobalt sulfate price has over the low-end price of the standard-grade cobalt benchmark, Co 20.5% basis, narrowed quickly to $1.19-1.31 per lb – a level that was last achieved in August 2018, according to Fastmarkets MB’s data. If...


Susan Zou

January 10, 2019

12:00 GMT