Low inventories support turnaround in low-grade cobalt prices

Benchmark low-grade cobalt prices rose for the first time since April last week when consumers working with reduced stock levels came back to the spot market.

Metal Bulletin assessed the low-grade cobalt price at $33.35-33.95 per lb, in-warehouse, on Friday September 7, up 0.7% from the midweek assessment. “The real floor has been established. It all got a bit tense around $33-33.50,” a producer said. The high-grade cobalt price also ended the week higher at $33.20-34.10 per lb, in-warehouse, up 0.3% from Wednesday’s assessment. “Buyers are starting to think this is probably as good as it gets... prices aren’t going to get much better for them,” a trader said. “Inquiries are coming in thick and fast,” a second trader...

Published

Charlotte Radford

September 10, 2018

16:33 GMT

London