The cobalt market reacted swiftly to the announcement of the closure on Wednesday August 7 when the trader-miner said Mutanda would be placed on care and maintenance for at least two years
due to low cobalt prices in an oversupplied market.
Fastmarkets’ benchmark price for cobalt, standard grade in-whs Rotterdam
rose 4% to $12.25-13.95 per lb on Wednesday, up from $12.20-13.00 per lb on Friday.
Fastmarkets’ price assessment for cobalt, alloy grade, in whs Rotterdam rose 4.3% midweek to $12.50-14 per lb from $12.40-13...