Africa logistics challenges keep cobalt hydroxide payables firm

Spot payables for cobalt hydroxide consolidated at four-month highs last week, with support from sellers’ continued cautious approach to additional sales outside long-term agreements.

Fastmarkets’ cobalt hydroxide payable indicator min 30% Co, cif China held at 66-68% on Friday July 10, its highest level since March 11 (taking the mid-point of the range).
Short-lived border closures in Africa, on top of truck driver demonstrations in South Africa, and tight vessel space are contributing to uncertainty over supply, leaving sellers holding out for higher payables, and buyers coming higher with their bids.

“Our available tonnage is still pretty minimal; the demonstrations in South Africa have backed things up a bit, and some material is having to be reshuffled on to other shipping lines. For the sake of fulfilment, we have...

Published

Charlotte Radford

Susan Zou

July 13, 2020

03:06 GMT

London, Shanghai