Weak consumption, ample stocks continue to put pressure on cobalt prices

Cobalt prices continued to drift lower over past week with buyers holding back from the spot market and stock levels sufficient to offset the initial impact of various supply-side cutbacks resulting from efforts to curb the Covid-19 pandemic.

Fastmarkets’ price assessment for cobalt alloy grade, in-whs Rotterdam stood at $16-16.50 per lb on Thursday April 9, unchanged from the previous day and down from $16.20-16.65 per lb at the end of last week.
The price assessment for cobalt standard grade, in-whs Rotterdam performed similarly, holding at $15.60-16.15 per lb on Thursday, unchanged from April 8 and down from $15.85-16.40 per lb on April 3.

Spot activity in the metal market has been thin as closures down...

Published

Charlotte Radford

April 09, 2020

21:55 GMT

London