Cobalt loses some of its gains but '$17/lb looks like the magic number'

Higher cobalt prices faded over the past couple of days, with bearish economic sentiment surrounding the spread of the novel coronavirus (2019-nCov) and the weakness in oil, equity and other metal markets weighing on buyers' appetites to restock.

Fastmarkets’ daily price assessment for cobalt, standard grade in-warehouse Rotterdam stood at $17-17.30 per lb on Wednesday March 11, narrowing downward by $0.20 per lb from $17-17.50 per lb a day earlier.
The daily price assessment for cobalt, alloy grade, in-warehouse Rotterdam was $17.60-18.20 per lb on Wednesday, down by $0.20 per lb from $17.80-18.40 per lb on Tuesday. 

"The level of uncertainty is growing in Europe so people are...

Published

Charlotte Radford

March 12, 2020

02:36 GMT

London