Meanwhile, the “mating season” is in full swing
and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.
Fastmarkets’ benchmark price assessment for cobalt standard grade, in-whs Rotterdam
was $27.00-27.55 per lb on Tuesday October 26, widening up by $0.15 per lb from $27.00-27.40 per lb the previous day. The current assessment also is up by 14.48% from $23.40-24.25 per lb on September 1, when prices started to rise following the summer lull, driven by improved demand for the metal in Europe and the United States as well as lower stocks.
The alloy-grade equivalent spot market followed a similar uptrend, with most sources seeing the prices at parity at present.
“I am not convinced [spot] prices will slip after long-term discussions are done. It depends on how much producers are left holding for [the]...