Chinese cobalt sulfate price surges to 26-month high on tight supply, raw materials strength

Cobalt sulfate prices in China hit a 26-month high on Wednesday January 27 against a backdrop of tight spot availability and strength in the upstream cobalt hydroxide market.

Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China rose to 70,000-74,000 yuan per tonne ($10,812-11,430) on Wednesday, up by 2,000-4,000 yuan per tonne (4.3%) from 68,000-70,000 yuan per tonne on January 22.
The battery raw material price is now at a level last reached in November 2018 after continuing to build upon the strong gains achieved since the beginning of the year.

Suppliers managed to conclude business at higher levels this week amid tight spot availability, which may not ease...

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