Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.
Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.In contrast, payables averaged 63.87% in May, (taking the average midpoint of Fastmarkets' cobalt hydroxide payable indicator), against an average metal price of $14.91 per lb (taking the low-end of the assessment for cobalt standard grade, in-whs Rotterdam). An effective hydroxide price would be $9.52 per lb if...