Metals & Mining Theme, Non-Ferrous
July 17, 2025
Platts proposes to launch daily cobalt metal ex-warehouse Shanghai assessments
Platts, part of S&P Global Commodity Insights, proposes to launch two daily spot price assessments for cobalt metal on an ex-warehouse Shanghai, China basis, effective Sept. 1, 2025.
The proposed new assessments would capture market activity in China, a key producer and exporter of cobalt metal, and where more than 70% of the world's cobalt refining capacities are located.
These would complement Platts existing coverage of cobalt metal assessments in Europe, cobalt sulfate and cobalt hydroxide assessments in Asia, and further expand the Platts suite of battery raw materials.
The proposed assessments would reflect the following specifications:
| Assessment | Type | Quality | Volume | Dimensions | Incoterm | Location | Timing | Payment Terms |
| Cobalt Metal Ex Warehouse Shanghai (Yuan/mt) | Assessment | Minimum 99.95% Co | 1-20 mt | Broken cathodes, cut cathodes | Ex Warehouse | Shanghai | 7 days | Bank payment in advance |
| Cobalt Metal Ex Warehouse Shanghai ($/lb) | Calculation | Minimum 99.95% Co | 1-20 mt | Broken cathodes, cut cathodes | Ex Warehouse | Shanghai | 7days | Bank payment in advance |
Platts proposes to consider the following cobalt metal brands based on initial feedback and observations of liquidity and spot volume in the Chinese market:
- Nanjing Hanrui
- Guangxi Yinyi
- Jiangsu Kailike (KLK)
Platts may normalize differing cobalt metal grades and brands to the basis specifications. The daily price assessments would be published as a single "close" value with a 4:30 pm Singapore (0830 GMT) timestamp.
The conversion to $/lb from Yuan/mt would factor in the USD-Yuan exchange rate and lb to mt unit conversion using the formula: Cobalt Metal Ex Warehouse Shanghai (Yuan/mt) / US Dollar-Chinese Yuan (AAWFW00) / 2204.62 = Cobalt Metal Ex Warehouse Shanghai ($/lb).
The assessments would be published in Platts Metals Daily, Platts Nonferrous Metals Alerts, in the Platts Battery Metals Market Report and in the Platts price database.
Platts invites feedback, comments and questions on this proposal to battery_metals@spglobal.com and pricegroup@spglobal.com by July 31, 2025.
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.