Cobalt hydroxide payables strengthen in tight spot market

Cobalt hydroxide payables continued to rally in the first half of the week started Monday July 27, with logistical tightness in South Africa still limiting suppliers’ capacity to offer units on spot inquiries.

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...

Published

Charlotte Radford

Susan Zou

July 29, 2020

19:47 GMT

London, Shanghai