Cobalt raw material inventory continued to decline in March, supply gap eased slightly in Q2

SHANGHAI, Apr 27 (SMM) – Cobalt raw material inventory (excluding refined cobalt) fell 5,100 mt in metal content in Q1.

Considering that cobalt beans or certain amounts of cobalt plates might have been dissolved to be used as supplementary raw materials, this may fill in 1,600 mt (metal content) of supply gap, mostly in March. However, the overall supply gap remained large.

Since March, shipping schedules and container data from South Africa have shown some improvement. Cobalt raw materials that were piling up at Durban Port began to be shipped out.

Considering the 1-1.5 month transportation period, it is expected that cobalt raw material supply shortage will gradually ease in Q2, but supply will remain in shortfalls.