The local cobalt futures price in China leapt this week, resulting in higher quotations in the spot market, but weak downstream demand and resistance to rapid price hikes created a disconnect between physical and futures prices.
The cobalt price on the Wuxi Stainless Steel Exchange (Wuxi) started to rise quickly at the beginning of this week after consolidating previous gains late in the prior week.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co,...