Modest gains in cobalt hydroxide payables capped by cautious restocking

Cobalt hydroxide payables rose slightly late last week, with sellers receiving more inquiries, although a stand-off in negotiations saw limited spot trades concluded in the second half of the week.

Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, edged up to 62-64.5% of the standard-grade cobalt price on Friday May 15, compared with 62-64% at the midweek assessment.
Some Chinese consumers are looking to source material for nearby shipment, either with May or June dispatch, with their existing stock levels expected to run dry at the end of June. They have found that the spot market has tightened, with suppliers unable to precisely gauge shipping times for rescheduled or new cargoes.

"There has been a lot more interest for May and June...

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