China’s cobalt metal price falls, bucking global trend

China’s cobalt metal prices declined this week in response to weak demand and cautious downstream buyers - diverging from the international trend for higher benchmark prices.

Fastmarkets' price assessment for cobalt 99.8% Co min, ex-works China was 395,000-410,000 yuan ($61,806-64,153) per tonne on Wednesday October 27, down by 2,000 yuan per tonne from 397,000-410,000 yuan per tonne on October 22 when the price reached its second-highest level in 2021. The highest so far this year was 390,000-420,000 yuan per tonne on February 24.
Fastmarkets’ latest price assessment for cobalt standard grade, in-whs Rotterdam was $27.10-27.65 per lb on October 27, up by $0.10 at both ends of the range, from $27.00-27.55 per lb on October 26.

With buyers keeping cobalt metal in tight hands and making aggressive offers,...

Published

Zihao Li

October 28, 2021

09:23 GMT

Shanghai