Cobalt hydroxide trades cool; smelters eye briquette

Cobalt hydroxide trading activities grew much quieter in the week to November 20 compared with the prior week when both parties actively mated for December units, sources said.

Fastmarkets’ cobalt hydroxide payables indicator, min 30% Co, cif China was assessed at 80-81% against the standard-grade cobalt price (low end) on Friday November 20, unchanged for the second consecutive pricing session.
Fastmarkets’ cobalt hydroxide index 30% Co min, cif China rose marginally to $12.69 per lb on November 20, up 2 cents or 0.2% from $12.67 per lb on November 18.
December cargoes sold out fairly quickly in the first half of November, suppliers said, citing decreased availability during the Christmas (December 25) and New Year's Day (January 1) holidays due to limited operations at major ports of departure in Africa where Democratic Republic of Congo (DRC)-mined cobalt hydroxide is shipped.
“It's not easy for us to secure vessels two weeks ahead of and following Christmas and the New Year holiday,” a supplier said.

One distributor said suppliers would prioritize shipping cargoes under long-term contracts, meaning...

Published

Charlotte Radford

Susan Zou

November 23, 2020

09:48 GMT

London, Shanghai