Spot cobalt hydroxide payables surged in the first half of this week with Chinese consumers actively seeking units while logistical bottlenecks continued to cap suppliers' ability to deliver January cargoes.
Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China moved up to 86-88.5% against standard-grade cobalt price (low end) on Wednesday January 6, from 82-83% on January 1. The increase of 5.8% is the biggest one between two pricing sessions since August 2019.Offers for spot January units have been thinning since late December when suppliers prioritized the delivery of cargoes agreed under long-term contracts. They are still struggling to gauge...