Metal Bulletin reported that this week, China’s State Reserve Bureau (SRB) bought about 50 tonnes of cobalt. It intends to stockpile the metal and buy more of it later.
As quoted in the market news:
‘The purchase amount assigned to the SRB was below estimates but the SRB plans to purchase 1,000 tonnes of cobalt metal this year, so there should be more buying later on,’ a market source said.
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