Key data from the Wednesday October 23 pricing session in Shanghai. - Chinese cobalt metal price softens on slow spot activity, while tight supply of certain domestic brands has eased amid profit- taking. - The cobalt tetroxide price in China was unchanged, though lower offers emerged after prices for downstream lithium cobalt oxide (LCO) battery materials fell, which led to a gap between suppliers’ offers and consumers’ expectations. - China’s cobalt sulfate price continued to edge lower amid stagnant demand, with consumers unwilling to restock amid a gloomy outlook for the electric vehicle sector next year. - Cobalt hydroxide payables remained stable, but spot trades progressed slowly with consumers making lower bids due to the decline in the domestic cobalt sulfate price. - Underlying benchmark metal prices, on which payables are negotiated, were steady.
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