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...