Chinese battery materials producers, who are the largest consumers of cobalt sulfate and cobalt tetroxide, have hesitated in purchasing any cobalt salts this week amid rapid falling international cobalt metal prices.
The resulting thin buying appetites have forced suppliers to lower their spot offer prices to facilitate sales. Fastmarkets assessed the Chinese cobalt sulfate, basis 20.5% Co market price at 62,000-65,000 yuan ($9,276-9,724) per tonne on Wednesday February 27, down 2.3% from 64,000-66,000 yuan per tonne on February 22. Elsewhere, the Chinese cobalt tetroxide price dropped to 200,000-220,000 yuan per tonne on February 27, down 3.4% from 210,000-225,000 yuan per tonne...