Fastmarkets’ assessment of the cobalt sulfate 20.5% Co basis, exw China price
dropped to 44,000-46,000 yuan ($6,248-6,532) per tonne on Wednesday November 20, down 2.2% from Friday. The price has fallen by 25% on the midpoint since the beginning of October.
Poor consumer demand in China has weighed on the cobalt sulfate price over the fourth quarter of 2019. The average operational rate for lithium-ion battery precursor materials producers in China is around 30%, market sources told Fastmarkets.
“The demand from precursor materials producers is weakening, otherwise sulfate producers wouldn’t be willing to sell at 44,000...