Cobalt hydroxide index rises, but trading slows

Outright cobalt hydroxide prices edged upward over the past fortnight, but spot trading has generally slowed while consumers exercise greater caution in restocking the material.

Fastmarkets' cobalt hydroxide index 30% Co min, cif China rose to $11.82 per lb on Friday August 21, up by 1.6% from $11.63 per lb two weeks earlier.
Consumers are still looking to top up their raw materials inventories in light of spot tightness due to logistical disruptions at the South African port of Durban, where the majority of cobalt hydroxide mined in the Democratic Republic of Congo (DRC) is shipped from, but they are restocking in a more cautious and less urgent manner, market sources told Fastmarkets.

"Consumers are still interested in restocking some units but they are more...

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