China’s Greatpower declares force majeure.

Force majeure is a clause that, when invoked, allows companies to suspend their obligation to fulfil contracts after unexpected events such as strikes and natural disasters.The notice said Greatpower has been unable to deliver product to customers at the agreed time since Dec. 11 and pledged that the company would take steps to reduce any adverse impact when production resumes.Chinese metals research house Antaike said in a note that there were two cobalt chemical producers affected by the Shaoxing measures. It did not name either company but said it expects the impact to last at least a month and to reduce monthly output by 1,200-1,500 tonnes on a metal content basis.Prices are expected to rise in the near term and EV battery makers will feel the shortages, it said.“Even if the epidemic is brought under control, it will be difficult to reach full production immediately,” Antaike added. QUOTE
COB will benefit by price uncertainties as the demonstration plant is completed in the new year IMO.

https://www.mining.com/web/chinas-greatpower-declares-force-majeure-in-face-of-covid-outbreak/