Cobalt hydroxide payables stop short of 70% as coronavirus clouds outlook

Cobalt hydroxide payables have stabilized over the past week, with buyers taking a more hesitant approach to restocking against an uncertain backdrop for cobalt consumption and prices in the coming months.

Fastmarkets’ cobalt hydroxide payable indicator, min 30% Co, cif China was unchanged at 67-69.5% of the standard-grade cobalt price (low-end) on February 26. Payables had been rising steadily since the start of the year when they stood at 61.5-62% of the metal price.

Intermediates buyers have so far resisted seller offers at 70% and above. While such levels are understood to be profitable for refineries with prevailing metal and salts prices taken into...

Published

Charlotte Radford

Susan Zou

February 27, 2020

15:03 GMT

Shanghai, London