Cobalt hydroxide market up amid ongoing delays at South Africa's ports

Cobalt hydroxide prices rose recently despite weakness in downstream salt prices in the domestic Chinese market, as ongoing disruptions and delays at port operations in South Africa have prompted sellers to keep their offers firm and take advantage of spot sales where buyers need prompt availability.

Fastmarkets' assessment for the cobalt hydroxide payable indicator, min 30% Co, cif China was 88-92% of Fastmarkets' standard-grade cobalt price (low-end) on Wednesday August 4, widening up from 88-89% previously, where the indicator had held since June 9.
Fastmarkets' assessment of the cobalt hydroxide index 30% Co min, cif China rose to $21.34 per lb on Friday July 30, up from $19.60 per lb at the beginning of July.
A spot hydroxide sale based on the hydroxide payable indicator was reported on August 4 to Fastmarkets at 92%, with the seller mentioning that the deal was achieved at that level due to a prompt delivery out of Malaysia.

By shipping material from stock held in Asia, the...

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