Cobalt Acetate Price Trends and Forecast

Cobalt Acetate Regional Price Overview

Get the latest insights on price movement and trend analysis of Cobalt Acetate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Cobalt Acetate Price Trend for the Q1 of 2024

The first quarter proved to be a little challenging for the cobalt acetate prices as they closely resembled the trajectory of its feedstock compounds, salts of cobalt, and acetic acid. During this phase, it was observed that China continued to ramp up its cobalt production, particularly from its operations in the Democratic Republic of Congo and new projects in Indonesia, despite a consistent and apparent dip in cobalt prices due to oversupply and weakened demand from the downstream industries.
 

Cobalt Acetate Price Chart

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Even before the advent of the first quarter of this year, the cobalt market did not show any positive signs but the continuous decline in cobalt prices altered the cost of production, evident in the pricing pattern of cobalt acetate. In China, even the acetic acid market failed to extend the required support to the cobalt acetate market as the prices fell, contrary to the expectations of the manufacturers and producers. In Europe and North America, however, the acetic acid market offered some relief, and thus, the production costs of cobalt acetate sustained above the bar.

The global downstream demand for the commodity was, on the other hand, negatively affected by the surge in the Red Sea crisis, incline in freight charges, and loss of shipments due to Houthi attacks. The low water levels in the Panama Canal also contributed to the depreciation of global trade, reflected in the subdued prices of cobalt acetate during the first quarter of 2024.

Analyst Insight

According to Procurement Resource, the price of Cobalt Acetate is expected to deal with the consistently declining cost of feedstock commodities and skepticism amongst the consumer sector amid the changes in global trading activities and economic policies.

Procurement Resource provides latest prices of Cobalt Acetate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.