The price of cobalt metal in China's domestic market widened downward in the first half of this week, pressured by lackluster spot demand while consumers opted for cheap imported briquette and off-grade cathode.
Fastmarkets' price assessment for cobalt 99.87% Co min, ex-works China was 265,000-275,000 yuan ($39,807-41,310) per tonne on Wednesday October 21, widening downward by 5,000 yuan from 270,000-275,000 yuan per tonne on October 16. The latest assessment is equivalent to approximately $15.98-16.59 per lb, less China's valued-added tax.Spot trading has been slower compared with last week, according to supplier sources, who noted that a lifeless performance of the local futures market had dented consumers' appetite to restock cobalt...