SHANGHAI, Dec 1 (SMM) — According to SMM survey, some of the shipping schedules arriving at ports in September have been delayed to October as crops and other goods occupy the port in South Africa, and shipping schedules and logistics are affected by uncontrollable factors like Covid-19.
Cobalt intermediate products imports declined slightly in January-October from 2019. The supply of cobalt sulphate fell 15% in January-October, cobalt chloride supply increased 19% and refined cobalt and cobalt powder output rose slightly. Overall domestic cobalt raw material inventories tightened in January-October. (all YoY basis)
Imports of unwrought cobalt rose in October, but export orders decreased in 2020. Domestic refined cobalt stocks remained high and prices were low. Refined cobalt prices, as the current reference standard for the pricing of cobalt products, have more impact on battery materials prices.
The average price of cobalt intermediate products trended higher in August-October, and the raw material costs at smelters rose, supporting cobalt prices. The average import prices of cobalt intermediate products in October were higher than the domestic spot prices.
Unwrought cobalt inventories tightened, domestic cobalt raw material stocks tightened YoY
