Chinese cobalt sulfate price pressured by weak domestic cobalt metal market, viral outbreak in S Korea

摘要

Weakness in cobalt metal prices along with growing concerns of disruptions to downstream battery operations in South Korea amid an outbreak of novel coronavirus (2019-nCoV) are weighing heavily on the Chinese cobalt sulfate market. Fastmarkets’ price assessment for cobalt sulfate 20.5% Co basis, exw China was 53,000-55,000 yuan ($7,615-7,903) per tonne on Wednesday March 4, a drop of 2,000 yuan per tonne or 3.6% from 55,000-57,000 yuan per tonne on February 28 - the biggest decline between consecutive pricing sessions since mid-November 2019.