Chinese cobalt metal price rises on tightened spot availability; sulfate market continues uptrend

Spot cobalt metal prices in China rose on Wednesday December 23 following a sharp rally in local futures prices, while availability of spot cargoes has started to tightened after major producers held back from making offers due to a widening price gap between metal and sulfate.

Fastmarkets’ assessment for cobalt 99.8% Co min, ex-works China was 257,500-268,500 yuan ($39,370-41,052) per tonne on Wednesday, up by 500-1,500 yuan per tonne (0.4%) from 257,000-267,000 yuan per tonne on December 18. The latest assessment is equivalent to approximately $15.80-16.48 per lb.

Despite lackluster demand in the run-up to the end of the year,...

Published

Susan Zou

December 24, 2020

09:05 GMT

Shanghai