Fastmarkets’ assessment for cobalt 99.8% Co min, exw China
rose to 255,000-265,000 yuan ($36,363-37,789) per tonne (equivalent to approx. $14.59-15.16 per lb, less China VAT) on Friday July 24, up 3.4% from 248,000-255,000 yuan per tonne on Wednesday.
Local futures prices for the blue metal have moved up quickly since midweek due to raw materials supply constraints while the majority of metal smelters are highly dependent on seaborne feedstock.
The most-traded August cobalt contract on the...