Cobalt hydroxide payables on the rise after buyers return

Spot cobalt hydroxide payables edged higher during the first half of the week after buyers resumed their restocking drive following the week-long China National Day holiday (October 1-8), sources said.

Fastmarkets' cobalt hydroxide indicator, min 30% Co, cif China widened to 77.5-80% against the price for cobalt, standard grade, (low-end) on October 14, up from 77.5-78.5% on October 9. Payables had previously been unchanged since September 23.
Suppliers hiked their offers, with business for spot cargoes ticking up to over 80% - with regard to the indicator - while some other seaborne cargoes were picked up toward the low end of the range, sources said.

Consumers largely sat on the sidelines of the market ahead of the Golden Week holiday, but have been operating with low...

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