Cobalt salts prices surge, but how far will they go?

Prices for cobalt salts, including cobalt tetroxide and sulfate, surged in the first half of this week, with suppliers refraining from offering large tonnages in the market.

Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China was 190,000-195,000 yuan ($27,125-27,839) per tonne on Wednesday July 29, up by 10,000 yuan per tonne (5.5%) from 180,000-185,000 yuan per tonne on July 24. This marks the biggest increase between consecutive assessments since mid-January.
Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China moved up to 47,000-50,000 yuan per tonne on Wednesday, up by 1,000-3,000 yuan per tonne (4.3%) from 46,000-47,000 yuan per tonne on July 24 and marking the biggest gain since mid-February.
Mainstream spot offers and transactions for cobalt sulfate were around 50,000 yuan per tonne by Wednesday, according to market participants.

Amid lingering cobalt raw materials supply constraints and increasingly high import costs, cobalt salts suppliers have attempted to avoid selling large tonnages in the spot...

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