Cobalt trades at 34-month low amid limited buying

Spot cobalt prices continued to grind lower in the international market in the week ending July 26, with traders showing a limited appetite to restock despite prices sitting at multi-year lows.

Fastmarkets assessed the alloy-grade cobalt price, in-whs Rotterdam, at $12.45-13 per lb on Friday July 26, a fall of 0.8% from the previous assessment.
Fastmarkets assessed the price for standard-grade cobalt, in-whs Rotterdam, at $12.30-12.65 per lb, declining 0.4% to where it last traded in September 2016.

Some traders were still focused on back-to-back business rather than restocking in any meaningful way, given the possibility that prices could fall further...

Published

Charlotte Radford

July 29, 2019

12:30 GMT

London