The Chinese cobalt sulfate price fell again in the latest pricing session, under constant pressure since mid-October from significantly shrinking buying appetite amid a bearish near-term outlook for electric vehicle (EV) development.
Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price dropped to 44,000-46,000 yuan ($6,248-6,532) per tonne on Wednesday November 20, down 2.2% from Friday. The price has fallen by 25% on the midpoint since the beginning of October."The demand from precursor materials producers is weakening, otherwise sulfate producers wouldn't be willing to sell at 44,000...