⁍ Transport delays from South Africa against a backdrop of increasingly robust Chinese demand have fuelled a price rally for cobalt hydroxide.

---

⁍ Cobalt from Congo comes in the form of hydroxide which is converted into chemicals for the lithium-ion batteries used in electric vehicles, mobile phones and the aerospace industry.

---

⁍ Chinese cobalt refiners have moved to replenish stocks of hydroxide feedstock as they gear up for a rebound in demand as coronavirus lockdowns are eased.

---

– The price of cobalt, used in electric vehicle batteries, has soared to its highest level in more than four months due to a lack of supply and increased demand from China, Reuters reports. The price of cobalt hydroxide, which is used in the production of lithium-ion batteries, has risen to around 85% of the metal price, its highest level in two years. “We are seeing a scramble for cobalt hydroxide in China, (but) buyers are finding it isn’t there,” says Caspar Rawles, head of price assessment for Benchmark Mineral Intelligence. Cobalt from the Democratic Republic of Congo and Zambia accounts for 70% of global supply. Meanwhile, transport delays from South Africa have fueled the price rally.