Coronavirus fears, weakening sentiment start to hit cobalt prices

Cobalt prices have come under pressure so far this week amid expectations of weak demand in the coming months while the spread of the novel coronavirus (2019-nCov) slows consumption and global economic growth.

Fastmarkets’ benchmark daily price assessment for cobalt, standard grade, in-whs was $16.40-16.75 per lb on Wednesday March 18, down by $0.55-0.60 per lb or 3.2% from $17-17.30 per lb on March 13.
Weak sentiment has also meant sellers are less concerned with acquiring a premium for particular brands of metal - some of which are still in tight supply in theory.
Declines in the price for cobalt, alloy grade, in-whs have therefore been more pronounced, with Fastmarkets’ latest assessment placing it at $16.50-17.15 per lb on Wednesday. This marks a decrease of $1.05-1.10 per lb or 6% from $17.60-18.20 per lb on March 13.

“To be honest it was a question of time. I don't see...

Published

Charlotte Radford

March 19, 2020

02:32 GMT

London