'Long, but unhappy': cobalt market drops

Cobalt prices moved down by 50 cents per lb on Wednesday as traders competed for business after failing to receive firm indications that the market would move up after the Cobalt Development Institute Conference in Hong Kong last week

Low-grade cobalt fell 50 cents to $17.50-18.40 per lb from $18-18.90 while high-grade dropped to $18.50-19.75 per lb from $19-20.25, market sources said. “People are fighting tooth and nail for business. The last rally, which I never believed in anyway, was over and done with in two weeks,” one trader said, having sold a substantial volume of high-grade material for...

Published

May 25, 2011

17:30 GMT

London