FOCUS: China’s SRB cobalt stockpiling could set metal price floor

摘要

China’s reserve authority has finally approved fresh stockpiling of cobalt metal, casting some hope for the pandemic-weathered market, especially for cut cathode amid aerospace negativity. In the evening of Wednesday September 9, Chinese cobalt producers successively received invitations from the country’s State Reserve Bureau (SRB) informing them to collect the tender document the next day - September 10, kicking off the long-expected stockpiling in the aftermath of Covid-19. Based on past experience, the type of cobalt metal the SRB usually targets is cathode, including cut cathode and broken cathode, according to market sources.