"There have definitely been enquiries and bookings from the
hedge fund side. There seem to be four or five of them out
there, and there could well be a couple more," one USA-based
trader told Metal Bulletin. The move by funds will be watched
closely by traders, consumers and producers, both for their
possible capacity to suck metal units out of the spot market
and push prices up, as well as the effect their moves might
have if and when they eventually exit the market. Low-grade
cobalt prices continued to trade at $10.50-11.20 per lb in
Metal Bulletin’s twice-weekly assessment on Friday
June 24, with high-grade prices moving up to $10.75-11.55
per lb on sales that rose to as much as $11.75 per lb. "One
company that we dealt with had already...
