CHINA COBALT SNAPSHOT: Rising futures buoy spot prices despite weak downstream demand

摘要

Key data from the Friday July 10 pricing session in Shanghai. - China’s cobalt metal prices edge up amid rising local futures prices with investors’ appetites strengthening on cobalt demand optimism from the electric vehicle (EV) sector after news that BMW Group signed a €100 million ($113 million) contract to secure cobalt supply. Spot demand remained sluggish, however. - Cobalt tetroxide prices were steady with suppliers holding offers firm while some had limited availability for July cargoes. Consumers acknowledged it has been increasingly difficult to materialize any lower bids.