Metal Bulletin assessed domestic Chinese cobalt metal
at 345,000-370,000 yuan ($50,214 to $53,853) per tonne on Wednesday February 15, a 10% increase on Friday’s assessment.
The large uptick in Chinese cobalt prices was a delayed response to the rally in international prices last week, market participants told Metal Bulletin.
Metal Bulletin’s low-grade cobalt price jumped up by 80 cents per lb on Wednesday
February 8 to $17.45-18.40 per lb, recording the highest increase since January 5, 2011. Prices moved up another 55 cents to $18-19 per lb on Friday
, meaning prices leapt $1.35 per lb in the week.
International cobalt metal prices have experienced a...