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Post by
GregL80 on Feb 17, 2022 10:38pm
China’s cobalt metal prices continue uptrend on supply issu
China’s cobalt metal prices continue uptrend on supply issues
China’s cobalt metal prices have been rising ever since the end of the Chinese New Year holiday (January 31 to February 6) and could go even higher because of limited availability in the spot market, sources told Fastmarkets this week.
Fastmarkets’ price assessment for cobalt 99.8% Co min, ex-works China was at 528,000-538,000 yuan ($83,177-84,752) per tonne on Wednesday February 16, up by 10,000-15,000 yuan per tonne from 513,000-528,000 yuan per tonne a week earlier.
The current assessment price is up by 23,000-28,000 yuan per tonne from 500,000-515,000 yuan per tonne on January 21, which was the last assessment before the Chinese New Year. Current monthly consumption of cobalt metal is approximately 800-1,000 tonnes in China.
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