Cobalt prices give way to credit squeeze, stock offloading

A squeeze on credit in China and efforts to secure cash won out over fundamental market strength last week, leaving the recent decline in cobalt prices to gain momentum in early July.

Metal bulletin's price assessments for high-grade and low-grade cobalt both dropped to $38.85-40 per lb on Friday July 6, off from $39.70-41 per lb on June 29 and down 2.3% over the course of the week. The cobalt metal assessments stood at $39-40.85 per lb midweek. Prices for both grades remained at parity in thin summer trading conditions. “There are conflicting opinions, [which is] the inevitable product of thin markets. There is a lot of pent-up demand, but there is a cash...

Published

Charlotte Radford

July 09, 2018

22:49 GMT

London