Tight supply outlook pushes cobalt prices higher

Cobalt sellers successfully held out for higher prices last week, despite a fairly limited uptick in consumer demand after the summer break.

Fastmarkets’ benchmark price assessment for standard-grade cobalt stood at $16.80-17.50 per lb, in whs Rotterdam on Friday September 6, narrowing upward by 15 cents per lb from $16.65-17.50 per lb on September 4. Alloy-grade cobalt prices were assessed at $17.05-18.35 per lb on Friday, widening upward by 30 cents per lb from the September 4 assessment of $17.05-18.05 per lb. Spot liquidity was lower than in recent weeks, a function of fairly limited metal availability in tight hands and buyers mulling their requirements after the summer break, in the context of prices that are substantially and unexpectedly higher than they were...

Published

Charlotte Radford

September 09, 2019

03:42 GMT

London