Update to proposal to launch cobalt in MHP CIF CJK prices

The rapid growth in the production of mixed hydroxide precipitate (MHP) in Indonesia and other countries has resulted in its increased use in the battery raw materials supply chain, with the nickel and cobalt content increasingly being used in the production of battery grade sulfates.

Fastmarkets research currently forecasts that MHP will contribute 15,500 tonnes of cobalt hydroxide in 2023, rising to 29,000 tonnes by 2025.

Fastmarkets currently prices the nickel content of MHP on both a payable and outright basis for the CIF China, Japan, and South Korea (CJK) market. The addition of cobalt pricing will further strengthen the price offering and provide further transparency to this market.

These proposed cobalt prices will be priced on a daily basis, bringing them in line with a proposed change in the frequency of the nickel MHP prices.

Cobalt mixed hydroxide precipitate payable indicator, % cobalt metal standard grade in-whs Rotterdam, cif China, Japan, and South Korea
Quality: 30-45% nickel min/max, 1-6% cobalt min/max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35- 40%
Quantity: Min 100 tonnes
Location: CIF major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: % of cobalt metal standard grade in-whs Rotterdam
Publication: Daily , 4pm London time

Cobalt mixed hydroxide precipitate, outright price, cif China, Japan, and South Korea, $/tonne
Quality: 30-45% nickel min/max, 1-6% cobalt min/max, 4% Zn max, 4% Cu max, 9% Mn max, 5% Mg max, 5% S max, 0.5% Fe max, moisture content 35- 40%
Quantity: Min 100 tonnes
Location: CIF major ports China, Japan and South Korea (other ports normalized)
Timing: 45 days
Unit: USD per tonne, inferred basis of the payable range or expressed by participants
Publication: Daily, 4pm London time
Notes: In the absence of data, Fastmarkets will calculate this price, based upon the payable level to the cobalt metal standard grade, in-whs Rotterdam price of that day.

The consultation period for this proposed launch starts from Monday, September 18 and will end on Wednesday, October 25. The launch will take place, subject to market feedback, on Friday, October 27.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Callum Perry by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Callum Perry, re Cobalt MHP prices.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.