Strong downstream market, tight availability boost cobalt hydroxide price

The spot cobalt hydroxide payable edged higher in the first half of the week with consumers holding robust demand amid persistent spot tight availability of the feedstock, sources said on February 25.

Fastmarkets’ assessment for cobalt hydroxide payable indicator, min 30% Co, cif China rose to 92.5-94% of standard-grade cobalt (low end) on Wednesday February 24, up by 0.81% from 92-93% on February 19.
Spot offers for seaborne units had been scarce ahead of - and post - the Chinese New Year holiday (February 11-17) with suppliers still gauging spot availability for March or April shipments and booking the vessels, while logistics delays continue to squeeze their capacity to supply the spot market.
Some consumers reported 1-2 week delays in deliveries of booked units to China partially due to weather-related disruptions.

In addition, delays to shipments from Durban port in South Africa have lingered in the past...

Published

Susan Zou

Dalila Ouerghi

February 25, 2021

13:00 GMT

Shanghai