Spot payables for cobalt intermediates moved higher in the first half of this week after buyers in Asia reviewed their nearby stock levels in the context of a slower-than-expected restart in shipping from South Africa, and border closures between Tanzania and Zambia.
Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China edged higher to 62-64% of the standard-grade metal price (low-end) on Wednesday May 13, up from 61-64% on May 8.On top of delays getting usual volumes flowing out of Durban, a temporary closure at the border between Zambia and Tanzania has created concerns over delays trucking material from the Democratic Republic of the Congo (DRC)...