China's cobalt sulfate price fell in the mid-week pricing session on Wednesday October 30 after coming under pressure from lackluster demand amid an underperformance in the country's electric vehicle (EV) market.
Fastmarkets assessed the price of cobalt sulfate 20.5% Co basis, exw China at 52,000-55,000 yuan ($7,365-7,790) per tonne on Wednesday, down by 3,000-4,000 yuan per tonne - or 6.1% - from 56,000-58,000 yuan per tonne on October 25. Mainstream offers were around 53,000-54,000 yuan per tonne this week, and large-tonnage deals were concluded at around 52,000 yuan per tonne. Some suppliers were heard to have cut offers to 50,000 yuan per tonne amid sluggish demand. Consumers are largely taking a cautious approach to spot procurement due to a weakened EV market in China, which is serving...