Cobalt hydroxide market in stalemate as Wuxi plunges

Cobalt hydroxide suppliers and buyers are in a stalemate after the cobalt futures price on the Wuxi Stainless Steel Exchange tumbled late last week.

Fastmarkets’ assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China was flat week on week at 93-94% of standard-grade cobalt (low end) on Friday March 5. The indicator is assessed twice weekly on Wednesdays and Fridays.
Risk-off sentiment prevailed in the market due to volatility on the Wuxi exchange, leading buyers to either stand on the sidelines or favor formula pricing as opposed to a fixed payable.

“The Wuxi rose too...

Published

Susan Zou

March 08, 2021

10:55 GMT

Shanghai