China's cobalt metal prices strengthen amid tight supply, high production cost

Domestic prices for cobalt metal in China have strengthened since mid-August despite weak downstream demand due to tightening supply and high production costs

Fastmarkets' price assessment for cobalt 99.8% Co min, ex-works China was at 360,000-383,000 yuan ($55,775-59,338) per tonne last Friday September 3, up by 3,000-5,000 yuan per tonne from 355,000-380,000 yuan per tonne on September 1.
Prices have largely narrowed upward since mid-August; the midpoint of Fastmarkets' August 13 assessment of 343,000-385,000 yuan per tonne was a two-month low.
Stock levels for cobalt metal in the Chinese spot market plummeted in August.

Market participants estimated that stock levels had decreased by 300 tonnes in August from slightly over...

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