Platts Cobalt Metal and Hydroxide Assessment

Platts Cobalt Assessments by S&P Global Commodity Insights are based on market information, including, but not limited to, firm bids and offers, and trades reported to the editor each week. Platts assessments reflect responsibly sourced material, which sellers should be able to demonstrate in line with standard industry practice, upon buyers' request.

S&P Global Commodity Insights collects data from market participants across the full supply chain, allowing us to produce a balanced assessment of price by engaging with suppliers, traders and consumers of all size and scale.

S&P Global Commodity Insights coverage of the cobalt markets is led by a global team across three offices: Singapore, Sao Paulo and London. These regions cover the key supply and consumption hubs for cobalt.

Asian cobalt hydroxide prices rose in the week ended May 26 for the first time since March on the back of an improving cobalt sulfate market.

Platts assessed 30% Co cobalt hydroxide at $7.20/lb CIF China on May 26, up 20 cents from a week earlier. The assessment was for spot cargoes aligned with the Platts methodology, loading 15-60 days out.

The cobalt sulfate price moved higher as market participants said prices had bottomed out and they had raised their offer prices.

Prices rose despite an overhang of cobalt hydroxide units, with the market widely seen as oversupplied.

Some metal sellers were more confident that prices are ‘near the bottom’.

Platts assessed the cobalt metal price at $13.20/lb-$14.65/lb in-warehouse Rotterdam on May 26, compared with $13.50/lb-$14.30/lb a week earlier.

Two traders reported buying on May 26 a total of 41 mt across three deals in the $13.50/lb-$13.85/lb in-warehouse Rotterdam range.

A separate seller said it was looking to hold or raise offer prices now, reporting offers at $13.95/lb and $14.50/lb in-warehouse.

Although, a consumer bought 6 mt at $13/lb DDP, netting back to $12.85/lb IW Rotterdam, indicating that sellers were out there happy to take cheaper numbers.

Platts is part of S&P Global Commodity Insights.

26 May 2023 — Cobalt Metal (99.8%) DDP Europe heard on May 26 traded at $13/lb, 6 mt, briquettes, normalized to

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 traded at $13.50/lb, 10 mt, May loading: Europe

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 traded at $14.65/lb, 1 mt, May loading: Europea

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 traded May 25 at $14.65/lb, 2 mt, May loading:

26 May 2023 — Cobalt Metal (99.8%) DDP Europe heard on May 26 offered at $14.90/lb, 6 mt, May loading: European

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 offered at $14.80/lb, 2 mt, May loading: Europe

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 traded at $13.50/lb, 11 mt, May loading: Europe

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 traded at $13.85/lb, 20 mt, May loading: Europe

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 offered at $15/lb, 5 mt, May loading: European

26 May 2023 — Cobalt Metal (99.8%) IW India heard on May 26 offered at $14.50/mt, 2 mt, May loading: European s

26 May 2023 — Cobalt Metal (99.8%) IW Rotterdam heard on May 26 offered at $13.95/lb, 5 mt, May loading: Europe

26 May 2023 — Cobalt Hydroxide CIF China heard on May 26 indicatively bid at $7 below/mt, June loading: Chine

26 May 2023 — Cobalt Hydroxide CIF China heard on May 26 offered at $7.5/mt, June loading: Chinese producer

26 May 2023 — Cobalt Hydroxide CIF China heard on May 26 offered at $7 above/lb, June loading: Chinese produc

26 May 2023 — Cobalt Sulfate DDP China heard on May 26 traded at Yuan 37,000/mt, June loading: Chinese producer