Cobalt hydroxide buyers seek 'first-mover advantage' for spot cargoes

Cobalt hydroxide payables narrowed upward during the first half of this week with lower numbers fading while buyers continued to stock up.

Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China tightened to 79.5-81% of the price for cobalt standard grade on Wednesday November 11, from 79-81% on November 6.
"Buyers are finally squaring up to the idea, especially for long-term contracts, that tonnes are not lying around, so there's a first-mover advantage," a supplier source said.

Payables have risen gradually from 77.5-78.5% on October 9, according to Fastmarkets data, amid continued restocking interest from refineries...

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