Stagnant spot activity weighs on Chinese cobalt sulfate price; premium against local cobalt metal price narrows

摘要

Stagnant spot activity continued to weigh on the cobalt sulfate price in China, with spot offer prices marching lower in the mid-week assessment on Wednesday March 6 amid persistent selling pressure.Fastmarkets assessed the Chinese cobalt sulfate, basis 20.5% Co market price at 57,000-60,000 yuan ($8,491-8,938) per tonne on March 6, down by 3,000-4,000 yuan per tonne or 5.6% from 60,000-64,000 yuan per tonne on March 1.Some suppliers had lowered their spot quotations by 2,000-3,000 yuan per tonne on March 6 compared with the end of last week, while others took to the sidelines as they awaited further indication on the direction of the price before making any offers.