Cobalt hydroxide prices underpinned by steady restocking

Prices and payables for cobalt hydroxide stretched to new highs last week, when Chinese refineries continued their restocking efforts in a market that remains tightly supplied for spot cargoes.

Fastmarkets’ cobalt hydroxide payable indicator, min 30% Co, cif China, was 78.5-80.5% of the price for cobalt standard grade, in-warehouse Rotterdam (low-end), on Friday October 23, widening upward from the October 21 assessment of 78.5-80%.
The weekly cobalt hydroxide index, min 30% Co, cif China, was calculated at $12.39 per lb on Friday, up 10 cents from $12.29 per lb a week earlier. 
Payables are up from 77.5-78.5% on October 2, while the index is up from $11.95 per lb. Both are at their highest since Fastmarkets starting tracking the spot market for cobalt hydroxide in January 2019.

“What we are seeing is encouraging. The restocking cycle has picked up...

Published

Charlotte Radford

October 26, 2020

03:49 GMT

London