Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.
Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was up from 59-61% at the end of July.Business was concluded with payables at the low-end of the new range at the beginning of August, when underlying metal prices also showed signs of basing out.Sellers were holding back from selling larger volumes of hydroxide, in the belief that the outlook for demand along the battery supply chain has improved for the latter part of...