Cobalt hydroxide payables gave back some of their February gains this past week, with post-Lunar New Year restocking being replaced by more cautious buying while market participants expect the spread of the novel coronavirus (2019-nCov) to dent global economic growth, and with it, cobalt consumption.
Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China was at 67-69% of the standard-grade cobalt price (low-end) on Wednesday March 11, narrowing downward from 67-69.5% a week earlier and ending two weeks of stability."Entering...