Cobalt prices, hydroxide payables diverge as metal sellers cut offers

Cobalt hydroxide payables made further gains during the first half of the week while metal prices fell for the first time since mid-July.

Fastmarkets’ price assessments for cobalt standard grade, in-warehouse Rotterdam and cobalt alloy grade, in-warehouse Rotterdam stand at parity at $15.50-16 per lb as of the Wednesday October 28 assessment, both narrowing downward from $15.70-16 per lb the day before.
Meanwhile the cobalt hydroxide payable indicator, min 30% Co, cif China rose to 79-81% on Wednesday, up from 78.5-80.5% on October 23.

The spot metal market has been dominated by small-tonnage inquiries with most demand covered by flexibility within long-term contracts, and buyers reluctant to take...


Charlotte Radford

October 29, 2020

02:39 GMT