Spot payables for cobalt hydroxide continued to rally in the first half of the week that began on Monday July 20, with consumers raising their bids in an effort to secure spot August cargoes, which remained in tight supply.
The assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), rose to 70-71.5% on July 22. This was its highest level since Fastmarkets started to track spot payables in January 2019."Suppliers are still catching up with delayed deliveries for long-term contracts," a supplier said, noting that the numbers of cases of Covid-19 in Africa were increasing. "Consumers are buying out of...