China’s cobalt sulfate price decline slows after aggressive scrap-fed offers disappear

The pace of decline in the Chinese cobalt sulfate market eased on Friday April 9 after aggressive offers for scrap-fed material started to disappear.

Lower offers for cobalt sulfate produced from scrap has put downward pressure on the whole market since the second half of March. They prompted most sellers to continue lowering offers for sulfate produced from hydroxide (regular-fed material) to compete with the aggressive offers amid thin buying interest.
But the situation has eased slightly since early April. Most aggressive offers for material produced from scrap have stopped appearing in the market due to increasing production costs amid a recent higher cobalt metal price and strict environmental inspections in some production provinces.

Fastmarkets’ assessment of the cobalt sulfate 20.5% Co basis, exw China price dropped to 72,000-74,000 yuan ($10,997-11,303) per tonne on...


Carrie Shi

April 12, 2021

11:32 GMT