The 21-day lockdown in South Africa and resulting disruption to shipping cobalt raw materials from Durban to Chinese ports have managed to slow the cobalt sulfate price downturn in China, with producers who were eager to destock pausing midweek, sources said.
Fastmarkets' price assessment for cobalt sulfate 20.5% Co base is, exw China was 45,000-47,000 yuan ($6,341- 6,623) per tonne on Wednesday March 25, down 2.1% from 46,000-48,000 yuan per tonne on Friday March 20. The downtrend has slightly decelerated compared to one week ago when the drop recorded was as high as 5.9% between two pricing sessions.Offers had been reported slightly over 40,000 tonnes...