Container shortages, logistics bottlenecks further underpin cobalt hydroxide market

Slow port operations at Durban in South Africa and limited container space are helping to keep cobalt hydroxide payables underpinned at their highest in at least two years on Thursday December 24.

Spot availability of cobalt intermediates is limited due to tight container space and reduced shipping schedules over the upcoming holiday period, in a market where availability outside long-term contracts was already limited.
Fastmarkets’ twice-weekly cobalt hydroxide payable indicator, min 30% Co, cif China held at 82-83% of the price for cobalt standard grade (low-end) on December 23.
The assessment is at its highest since Fastmarkets started assessing the spot cobalt hydroxide market in January 2019, and payables have made steady gains since June this year, when they were at 65-66.5%.

Fastmarkets’ cobalt hydroxide index 30% Co min, cif China rose to $13.10...

Published

Charlotte Radford

Susan Zou

December 24, 2020

15:51 GMT

Shanghai, London