China cobalt sulfate price weakens on profit-taking

The Chinese cobalt sulfate price softened in Fastmarkets' midweek assessment after some suppliers cut their offers to lock in profits amid concerns of a waning market in March.

Fastmarkets assessed the price for cobalt sulfate 20.5% Co basis, exw China at 56,000-58,000 yuan ($7,953-8,238) per tonne on Wednesday February 26, widening downward by 1,000 yuan per tonne from 57,000-58,000 yuan per tonne on February 21.
Lower offers have emerged ahead of next month, when market participants broadly expect the cobalt sulfate market to weaken as a result of easing supply disruptions following the general resumption of operations at refineries and the lifting of cross-provincial transportation restrictions across most regions in China.

“Inquiries have been limited while people anticipate the price...

Published

Susan Zou

February 27, 2020

04:04 GMT

Shanghai