Cobalt market takes a tumble, alloys steady - MINORS-NOBLES

Cobalt prices fell again last week as traders and producers appear to be
taking aggressive sales stances in Europe, Asia and the USA.
While several small tonnages were reported sold in the run-up to the
holiday period at levels around $8 per lb or just below, most consumers
said they were not in buying mood so close to or during the holidays.
A European business at $7.80 per lb with long payment terms appeared to
be the lowest deal booked so far last week, although there were reports of
some small long-term business closer to the $7 per lb mark for 1999.

Market observers said they are waiting...


December 31, 1998

00:00 GMT

M B NF13