Tight spot supply further underpins cobalt hydroxide market

Cobalt hydroxide prices and payables stretched to new highs in the week ended Friday December 11 when buyers came back to the market looking for prompt January cargoes and evaluating the availability of January-shipment material, after a lull in activity since the second half of November.

Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), rose to 81-83% on December 11, up from 80.5-81.5% in the middle of the week.
The cobalt hydroxide index, 30% Co min, cif China, was calculated at $12.89 per lb on Friday, up by 1.3% from $12.72 per lb a week earlier.
Both values were at their highest since Fastmarkets started to track the spot cobalt hydroxide market in January 2019.
Supply remained well committed to long-term contracts, leaving buyers to pay up for spot cargoes.

"Some of the suppliers' spot availability should be pretty tight in the near term," a...

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