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Chinese cobalt smelters sign supply contracts at lower prices

February 09, 2012 - 08:23 GMT Location: Shanghai

Two Chinese cobalt refineries have signed contracts for raw material with suppliers for the coming year at lower prices, according to market participants.

The smelters have agreed with a major supplier to a 100% pricing for cobalt content in cobalt hydroxide when cobalt prices are below $10 per lb, and 76.5% charges on cobalt content when cobalt is above $10 per lb, according to market sources. The prices are much lower than the initial offer by the supplier months ago, although other Chinese smelters have...

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