China cobalt prices edge higher after suppliers broadly hold back from sales

Cobalt metal and salts prices in China rose in the first half of the week with some suppliers holding back from sales amid tightened supply and in anticipation of a further price rally.

Metal suppliers in China succeeded in filtering through higher offers so far this week on the back of optimism for another round of stockpiling from China’s State Reserve Bureau (SRB) and the resultant spot supply constraint has further strengthened sentiment.

Fastmarkets’ assessment for cobalt 99.8% Co min, ex-works China rose to 278,000-295,000 yuan ($43,034-45,666) per tonne (around $17.27-18.33 per lb, less China VAT) on Wednesday January 6, up 2.7% from...

Published

Susan Zou

January 06, 2021

14:02 GMT

Shanghai