Mutanda’s closure, Katanga’s lower guidance spur cobalt price rises

Glencore’s decision to shut its Mutanda copper-cobalt mine and reduce the production guidance for its Katanga cobalt asset, both in Democratic Republic of Congo, spurred producers and consumers to look for higher spot prices toward the end of Fastmarkets’ pricing session on Wednesday August 7.

Fastmarkets’ benchmark price for cobalt, standard grade, in whs Rotterdam, rose by 4% to $12.25-13.95 per lb on August 7, from $12.20-13.00 per lb on August 2. The corresponding assessment of the price for cobalt, alloy grade, in whs Rotterdam, was $12.50-14.00 per lb on August 7, up by 4.3% from $12.40-13.00 per lb on August 2. The closure of Mutanda by the end of 2019, alongside the revision of...

Published

Martim Facada

August 07, 2019

20:22 GMT

London