Expectations of stockpiling activity ahead of the Chinese National Day holiday (October 1-7) have boosted sentiment among suppliers, leading to higher spot quotations for battery raw materials, including cobalt sulfate and tetroxide.
Fastmarkets’ assessment for cobalt tetroxide 72.6% Co min, delivered China rose to 200,000-210,000 yuan ($28,140-29,547) per tonne on Wednesday September 18, up 2.5% from 195,000-205,000 yuan per tonne on September 13.
The consumer electronic products battery raw materials price has accelerated the uptrend since late August on the back of traditional end-of-month inventory top-up buying by consumers.
The looming Golden Week holiday…