SRB stockpiling plan boosts China cobalt prices

Cobalt metal prices are rising in China as the China State Reserve Bureau (SRB) plans to buy the minor metal for its reserves, sources told Metal Bulletin on Wednesday.

The SRB has invited four companies, including major smelters and traders, for a bidding scheduled for Friday morning, according to sources from these companies, who declined to be named.
An official at the SRB declined to comment on the topic on Wednesday afternoon.
On Wednesday September 23, cobalt metal was mainly trading at 210,000-215000 yuan ($32,892-33,675) per tonne in China’s domestic market, compared with a range of 207,000-213,000 yuan per tonne for the previous pricing session.

Imported cobalt was mainly traded at the low...

Published

Linda Lin

September 23, 2015

08:24 GMT

Shanghai

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