Cobalt prices surge as buyers scramble to secure units

Cobalt prices surged this week, boosted by talk of big volume long-term inquiries that suggest that some consumers are scrambling to secure units - and prices - for up to five years in the future.

Low-grade prices and high-grade prices assessed by Metal Bulletin both hit $30.95-32 per lb on Wednesday November 29, up from $30.20-31.50 and $30.50-31.85 respectively on Friday November 24. Spot activity has picked up in recent weeks, with most sellers confident enough to offer higher due to an increase in consumer interest. But it was long-term inquiries that really caught the eye of the market this week. “I’m amazed at how many consumers haven’t covered for 2018. I’m...

Published

Fleur Ritzema

November 30, 2017

01:29 GMT

London