Cobalt salts price firms on tight supply, returning demand

Cobalt sulfate and tetroxide prices in China continue to be underpinned by tight supply and resumed demand after the Lunar New Year holiday, but mid-term demand is still in check due to the novel coronavirus (2019-nCoV) outbreak.

Fastmarkets’ assessment for cobalt sulfate 20.5% Co basis, exw China rose to 53,000-55,000 yuan ($7,589-7,876) per tonne on Wednesday February 12, up 2.9% from 52,000-53,000 yuan per tonne on Friday.
Some urgent inquiries were reported with buyers willing to pay on a cash basis instead of traditional bank acceptance to secure feedstock amid spot tight availability and road restrictions imposed to contain the spread of the virus.

Quite a few refineries in key production hubs, including Zhejiang, Jiangsu and Jiangxi provinces, have not been able to resume operations this week despite the national extended Chinese New...

Published

Susan Zou

February 13, 2020

10:30 GMT

Shanghai