Fastmarkets’ cobalt hydroxide payable indicator, min 30% Co, cif China
rose to 63-65% against the standard-grade cobalt price on Wednesday May 20, up 1.2% from 62-64.5% on Friday.
Many suppliers are holding back from sales due to tightened availability, citing slow loading and shipping of units at Durban, buyers told Fastmarkets.
Operations at Durban, which is a crucial exit for Democratic Republic of Congo (DRC)-mined cobalt hydroxide, resumed at the beginning of May following a 36-day lockdown in South Africa. That was followed by a temporary closure of the border between Zambia and Tanzania, which has...