Africa logistics woes see cobalt hydroxide payables tick higher

摘要

Spot payables for cobalt intermediates moved higher in the first half of this week after buyers in Asia reviewed their nearby stock levels in the context of a slower-than-expected restart in shipping from South Africa, and border closures between Tanzania and Zambia. Fastmarkets’ cobalt hydroxide payable indicator, min 30% Co, cif China edged higher to 62-64% of the standard-grade metal price (low-end) on Wednesday May 13, up from 61-64% on May 8. Buyers said their delays were longer than previously expected, with shipments out of the port Durban in South Africa also ramping up at a slower pace than anticipated. “The shipping time has been longer than expected for some of our diverted material - there’s a six- or seven-week delay in total,” a consumer source said.