Fastmarkets assessed the price for cobalt standard grade, in-whs Rotterdam
at $15.55-16.50 per lb on Wednesday, up 2.4% from Friday.
The cobalt alloy-grade, in-whs Rotterdam price
was marginally higher at $15.85-16.55 per lb on the same day, up from $15.80-16.45 per lb at the end of last week.
About 375 tonnes of spot business was reported to Fastmarkets across the two assessments.
“All of a sudden there’s a lot of inquiries and it’s all heading towards $16,” a distributor said.
Sellers successfully hiked their offer prices as inquiries from the trade and end users continued to mount following market participants’ return from the Christmas and New Year holidays.
“On Monday you could...