The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low end)
, rose to 74-75% on July 29, up from 70-73% on July 24. This was a new high for the assessment since Fastmarkets started monitoring spot payables in January 2019.
Spot payables were up from 65-67% of Fastmarkets’ standard grade metal price (low-end) at the beginning of the month.
“It’s a combination of [there being] shipping delays of one month to six weeks, and that [those delays] have exposed the fact that stocks at the...