Cobalt metal prices close to 2-year highs as Europe, US consumers return

The price of standard-grade cobalt has hit a fresh high, reaching numbers not seen in nearly two years after non-Chinese consumers stepped into the market in the week to Wednesday January 20, with enough strength to help a two-week price rally continue after buying interest from China dipped.

Trading volumes were now at “normal” levels, according to one trader, after two weeks of furious activity when Chinese buyers entered the market to take advantage of the arbitrage after their country’s government stockpiled the critical raw material.
Fastmarkets’ price assessment for cobalt standard grade, in-whs Rotterdam, moved up to $17.75-18.50 per lb on Wednesday, widening upward slightly from $17.75-18.30 per lb the previous day.

The latest price was the highest for the product since...

Published

Michael Greenfield

Dalila Ouerghi

January 20, 2021

20:05 GMT

London