Cobalt metal prices turn around amid China rally, increased inquiries

Benchmark prices for cobalt metal lurched higher in the first few trading days of August as a recovery in the Chinese market trickled through to encourage increased buying - and higher prices - in the rest of the world.

Fastmarkets assessed the prices for cobalt standard grade, in-whs Rotterdam and cobalt alloy-grade, in-whs Rotterdam at parity at $14.25-14.70 per lb on Tuesday August 4, up from $13.75-14.20 per lb and $13.90-14.20 per lb respectively on Friday July 31, according to Fastmarkets data.
Prices for both grades had faced downward pressure since early March.

Inquiries continued to pick up this week, with the trade and investors looking to add to their positions and some end users looking to take on...

Published

Charlotte Radford

August 04, 2020

23:29 GMT

London