Cheaper cobalt offers fade while market absorbs Glencore cuts; benchmark price up 11%

Sellers successfully raised their spot offers for cobalt metal in the first half of this week against trader position taking and modest consumer restocking in anticipation of higher prices in the coming weeks.

Fastmarkets assessed the price for cobalt standard grade, in-whs Rotterdam at $14.65-15.70 per lb on Wednesday August 14, up by 11% compared with last Friday’s assessment of $13.05-14.30 per lb.
The price for cobalt alloy grade, in-whs Rotterdam was assessed at $15.10-15.95 per lb on Wednesday, an increase of 8% from $13.60-15.15 per lb at the end of last week.

Multiple sellers held back from offering...

Published

Charlotte Radford

August 15, 2019

02:55 GMT

London