Spot cobalt hydroxide payables build on recent gains amid consumer restocking

Spot payables for cobalt hydroxide continued to edge up in the first half of the week, which saw active inquiries and steady procurement from consumers.

Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China rose to 63-65% against the standard-grade cobalt price on Wednesday May 20, up 1.2% from 62-64.5% on Friday.
Many suppliers are holding back from sales due to tightened availability, citing slow loading and shipping of units at Durban, buyers told Fastmarkets.

Operations at Durban, which is a crucial exit for Democratic Republic of Congo (DRC)-mined cobalt hydroxide, resumed at the beginning of May following a 36-day lockdown in South Africa. That was followed by a temporary closure of the border between Zambia and Tanzania, which has...

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