Supply constraints, robust demand push spot cobalt intermediates payable to 90%

The cobalt intermediates spot payable has surged to 90% on the high end - a fresh historical high - this week against the backdrop of tight supply and healthy demand.

Fastmarkets' assessment for the cobalt hydroxide payable indicator, min 30% Co, cif China rose to 88-90% against the standard-grade cobalt metal price (low end) on Wednesday January 13, up by 2% from 86-88.5% on January 8. The latest assessment sets a new record high since Fastmarkets launched the indicator in January 2019.
Concerns over tight spot hydroxide availability in January and February has been exacerbated by severe congestion at the land borders of South Africa where the majority of Democratic Republic of Congo (DRC)-mined cobalt hydroxide is transported to be shipped out.

The South African...

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