Pressure on lithium hydroxide as cobalt imports recover
The slower than expected take-up of low cobalt battery chemistries has continued to pressure the hydroxide market in recent months and the hydroxide premium over lithium continues to close. New supply in H2/19, coupled with weaker than expected demand, is likely to further pressure prices. Chinese cobalt ore imports spiked in April as DRC shipments recovered. However cobalt metal and cobalt sulphate prices continued to fall in May suggesting that the market is oversupplied.