Imports of cobalt intermediates have continued to rise in China, with January-September volumes already exceeding that of the entire previous year. This excessive inflow has led to an enduring oversupply in the domestic cobalt market, sources have told Fastmarkets

Read Fastmarkets' monthly battery raw materials market update for October 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more

Fastmarkets is inviting feedback from the industry on the methodology for its audited non-ferrous price assessments and indices, as part of its announced annual methodology review process.

The price of standard-grade cobalt has fallen to its lowest so far this year in the week ending Friday September 20, on slow demand and continued oversupply.

Critical metal refiner Nth Cycle became the first company in the US to produce premium nickel-cobalt mixed hydroxide precipitate (MHP) this week, when it began commercial-scale operations on Monday September 9

CMOC expects its growth rate of cobalt supply to gradually ease in the second half of 2024, the company said on August 23. Market participants, however, were divided in their response to the announcement, with some expecting the output reduction to alleviate the current imbalance between supply and demand in parts of the market.

Read Fastmarkets' monthly battery raw materials market update for September 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more

Signals of oversupply are caused by newly signed contracts and delays in seaborne logistics, said cobalt traders

Africa is known for being home to many key resources, including copper and cobalt, but it’s equally known for its persistent logistics issues, such as trucking strikes, shortages of transport capacity and congested ports, which have caused constant delays in shipments from the region.

Less than a year after launching, open interest on the Chicago Mercantile Exchange (CME) cobalt hydroxide futures contracts has reached 1,000 lots, an all-time high