COBALT MONTHLY REVIEW – SEPTEMBER: Salts, hydroxide prices outperform on strong demand

Prices of cobalt metal, salts and hydroxide continued their upward momentum in September, while the chemical prices outperformed amid strong demand incited by concerns of supply tightness following the news on Glencore’s Mutanda mine closure in early August.

Price moves The rally in the benchmark cobalt price slowed in September with aggressive trader stockpiling drying up, amid limited restocking appetite from consumers after the summer break. Although the majority of consumer inquiries comprised 5-10 tonnes instead of large tonnages, the metal prices were well enough underpinned due to fairly limited metal availability in tight hands and persistent strength in Chinese salts prices. The cobalt sulfate price continued the strong uptick in September, buoyed by healthy demand ahead of China’ National Day holiday (October 1-7) and tight spot availability. Sulfate producers made aggressive offers while holding back from large-tonnage sales amid concerns that the rally in the price of cobalt hydroxide, the main feedstock...

Published

Susan Zou

October 01, 2019

13:56 GMT

Shanghai