Benchmark cobalt metal prices move up after 13 weeks of falls

Spot prices for cobalt metal moved up for the first time since late April on Friday August 2 after recent price declines prompted consumer and trader buying against a backdrop of stronger prices in China.

Fastmarkets’ benchmark standard-grade cobalt price, in whs Rotterdam rose 1.4% to $12.20-13 per lb on August 2. Prices had moved to $12.10-12.75 per lb on July 31, widening out from $12.30-12.65 per lb at the end of the prior week. 
Fastmarkets assessed the price of alloy-grade cobalt, in whs Rotterdam at $12.40-13 per lb on August 2, up by 0.6% from July 31’s assessment of $12.35-12.90 per lb.
“It’s getting harder and harder to buy at what you would consider a ‘good’ price,” one trading source said.

With cobalt trading at its lowest level since the end of August 2016, traders have been looking to restock, but encountering difficulty buying at...

Published

Charlotte Radford

August 05, 2019

05:42 GMT

London