Platts to launch daily cobalt metal ex-warehouse Shanghai assessments

Platts, part of S&P Global Commodity Insights, will begin publishing two daily spot price assessments for cobalt metal on an ex-warehouse Shanghai basis, effective Sept. 1, 2025.

The new assessments will capture market activity in a key Chinese trading hub. More than 70% of the world's cobalt refining capacities are in China.

The daily assessment in Yuan/mt and conversion to $/lb will complement Platts' existing cobalt metal assessments in Europe and the US, cobalt sulfate and cobalt hydroxide assessments in Asia, and further expand Platts' suite of battery raw materials.

Following market feedback, the assessments will reflect the following specifications:

Platts will consider the following cobalt metal brands based on 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 conversion to $/lb from Yuan/mt will factor in the USD-Yuan exchange rate and lb to mt unit conversion using the formula: Cobalt Metal Ex Warehouse Shanghai Yuan/mt (BATCY00) / US Dollar-Chinese Yuan (AAWFW00) / 2204.62 = Cobalt Metal Ex Warehouse Shanghai $/lb (BATCL00).

Platts initially proposed the launch July 17, in a subscriber note available at: https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/071725-platts-proposes-to-launch-daily-cobalt-metal-ex-warehouse-shanghai-assessments

The daily price assessments will reflect a 4:30 pm Singapore (0830 GMT) timestamp. The first monthly average calculations will be updated Sept. 30, reflecting the average of daily assessments published throughout September.

The assessments will be published in Platts Metals Daily, Platts Nonferrous Metals Alerts, the Platts Battery Metals Market Report, and the Platts price database.

Details of Platts' global cobalt assessments may be found in the specifications guide for Global Nonferrous Metals.

Please send feedback, comments, and questions to battery_metals@spglobal.com and pricegroup@spglobal.com.

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