High prices are, at least for now, unlikely to deter purchasing, because tight supplies, strong demand from the battery and super-alloy sectors and larger volume inquiries are sufficient to underpin the latest gains, market sources told Metal Bulletin.
Metal Bulletin assessed low-grade cobalt prices
at $39.25-40.40 per lb, in-warehouse, on Wednesday March 7, up 1.3% from the previous assessment.
rose similarly, up 1.2% from the assessment on Friday March 2, now at $39.40-40.45 per lb.
“Cobalt has gone from being thinly traded, to charging through the $40 mark with larger tonnage inquiries,” a trader source said.
Spot purchases of between one and five tonnes have been considered the norm so...