Spot cobalt hydroxide payables steady; spot trades diminish

Spot payables for cobalt intermediates held steady week on week, although buying interest has thinned compared with the beginning of June and May's restocking.

Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China was assessed at 65-66.5%of the standard-grade metal price (low-end) on FridayJune 19, unchanged since June 5.
The spot market has been less busy since the start of June after the majority of consumers bridged the gap of raw materials supply last month following the logistics disruptions in South Africa amid the 36-day lockdown in that country.
"I expect people are going to start a destocking cycle now," a supplier source said.
The accelerated downturn of downstream cobalt sulfate prices witnessed late last week dented some consumers' interest in further building up stocks to their safety level.

Fastmarkets' assessment for cobalt sulfate 20.5% Co basis, exw China dropped to 44,000-45,000 yuan ($6,221-6,363) per tonne on Wednesday June 17, down by 2.2% from 45,000-46,000 yuan per tonne on June 12. That marks the second consecutive 2.2% decline...

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