Chinese cobalt sulfate prices rise further, most buyers hesitate

China’s cobalt sulfate prices continued to gain on support from firm offers from sellers and bullish market sentiment, but many buyers have hesitated in restocking while they wait for a clearer direction in the market, sources told Fastmarkets.

Fastmarkets’ assessment for cobalt sulfate 20.5% Co basis, exw China rose to 79,000-81,000 yuan ($12,203-12,512) per tonne on Friday July 9, up from 78,000-,80,000 yuan per tonne on July 7.

China’s domestic cobalt sulfate producers held offers firm, citing high production costs due to rising cobalt hydroxide prices and bullish market sentiment. Mainstream spot offers were up to 83,000-85,000 yuan per tonne, but no deals were concluded at this...

Published

Carrie Shi

July 12, 2021

09:44 GMT

Beijing