Metals & Mining Theme, Non-Ferrous
September 01, 2025
Platts launches daily cobalt metal ex-warehouse Shanghai assessments
Platts, part of S&P Global Commodity Insights, has launched two daily spot price assessments for cobalt metal on an ex-warehouse Shanghai basis, effective Sept. 1.
The new assessments 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 $/lb complement Platts existing cobalt metal assessments in Europe and the US, cobalt sulfate and cobalt hydroxide assessments in Asia, and further expand Platts suite of battery raw materials.
The assessments reflect the following specifications:
| Assessment | Symbols (Monthly average) | Type | Quality | Volume | Dimensions | Incoterm | Timing | Payment terms |
| Cobalt Metal Ex Warehouse Shanghai (Yuan/mt) | BATCY00 (BATCY03) | Assessment | Minimum 99.95% Co | 1-20 mt | Broken cathodes, cut cathodes | Ex Warehouse Shanghai | Within 7 days | Bank payment in advance |
| Cobalt Metal Ex Warehouse Shanghai ($/lb) | BATCL00 (BATCL03) | Calculation | Minimum 99.95% Co | 1-20 mt | Broken cathodes, cut cathodes | Ex Warehouse Shanghai | Within 7 days | Bank payment in advance |
Platts considers 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 factors 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).
The new assessments were first proposed on July 17 in a subscriber note available here . Platts communicated the decision to launch the assessments on Aug. 4 in a subscriber note available here .
The daily price assessments 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 are 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 can 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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