Cobalt price leaps $40-per-lb resistance barrier as demand intensifies

Cobalt prices have consolidated their move last week to more than $40 per lb, amid increased spot demand for metal against a backdrop of tight supplies, a limited number of sellers, and strong downstream demand.

“The days of sub-$40 [per lb] buying are history,” a trader source said on Monday March 19. High-grade cobalt prices were assessed at $41.70-43.00 per lb, in-warehouse, on March 16. This was up from $39.50-40.75 per lb a week earlier, and from $40.40-41.95 midweek. Low-grade cobalt prices rose to $41.20-42.50 per lb, in-warehouse, at the end of last week, jumping from $39.50-40.75 per lb at...

Published

Charlotte Radford

March 19, 2018

19:28 GMT

London