Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 260,000-280,000 yuan per tonne ($14.78-15.91 per lb, minus China value-added tax) on Wednesday August 21, widening downward by 10,000 yuan per tonne from 270,000-280,000 yuan per tonne on August 16.
Suppliers reported fewer spot inquiries and deals this week compared with the past few weeks, saying that the majority of downstream consumers now have sufficient stocks on hand.
“Spot trading is less active than it was before,” a trader said. “Consumers have enough stocks for the moment.”
The trader added that the reduced...