Cobalt, copper market react to fire at Tenke mine

Chinese cobalt prices have moved up slightly following the fire at the Tenke Fungurume mine in the Democratic Republic of Congo (DRC) that broke out over the weekend, although initial indications suggest no material impact on production

Chinese cobalt prices rose over the weekend on news of the fire, alongside an increase on the Wuxi exchange. “The cobalt price moved up somewhat today... not only due to the fire news but also because of the price rise on the Wuxi Stainless Steel Exchange,” one major trader in China said, adding that he believed that news of the fire may continue to push cobalt prices up.  Metal Bulletin’s Chinese cobalt price was assessed at 375,000-425,000 yuan ($55,284-62,768) per tonne on Friday July 14, down from 377,000-427,000 yuan on...

Published

Rena Gu

James Heywood

Kiki Kang

July 17, 2017

12:31 GMT

London, Singapore, Shanghai