SHANGHAI, Mar 15 (SMM) – The monthly average price of cobalt sulphate stood at 40,000 yuan/mt in February, a drop of 11% month-on-month and 65% year-on-year.

In early February, sluggish downstream demand and falling prices of intermediate products led to steep decline in cobalt sulphate prices.

In mid-to-late February, traders stocked up as hindered cobalt ore shipments from overseas mines ignited supply concerns, driving cobalt sulphate prices to bottom out.

However, cobalt sulphate prices will only see limited upside room in March, unless downstream demand recovers rapidly.