Cobalt spot market quiet; consumers take requirements from contracts [CORRECTED]

Spot-market demand for cobalt metal has remained at minimal levels in recent weeks, leading market participants to question the level of discount that would be achievable in the forthcoming “mating season.”

Sellers confirmed on Monday October 19 that consumers continued to take any additional requirements of metal from long-term contracts, enjoying discounted prices arranged last year.
This has left only thin volumes of cobalt being transacted in the spot market. This gave some participants the impression that demand was weak and they therefore saw potential downside on the price.
Others, typically traders, continued to report receiving inquiries and saw some bright spots in demand, and therefore have kept their offers at levels toward the top of range, which has resulted in the price edging upward in recent weeks.

Fastmarkets’ price assessment for cobalt, standard grade, in-whs...

Published

Michael Greenfield

October 20, 2020

13:42 GMT

London