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...