Thin demand outweighs cobalt hydroxide supply pressures in April

Outright cobalt hydroxide prices came under pressure in April with limited demand from end-users in Asia outweighing the impact of delays and supply uncertainty stemming from South Africa's lockdown.

Fastmarkets' cobalt hydroxide index, min 30% Co, cif China, was calculated at $9.98 per lb on Thursday April 30, down by 9.27% from $11 per lb at the end of March.
The monthly index is a tonnage-weighted average taking into account market activity discussed or agreed on the basis of a fixed price. As the vast majority of cobalt hydroxide business is agreed on the basis of a payable, the index also includes conversions of deals concluded on the basis of a payable and converted to an effective price by Fastmarkets using that month's average cobalt metal price.

Fastmarkets' benchmark price assessment for cobalt, standard-grade, in-warehouse Rotterdam, averaged $15.55-16.09 per lb in April, compared...

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