Western cobalt prices have so far fallen in October compared to September, data from Metal-Pages shows.
99.6 percent cobalt averaged $13 per pound on the low side and $13.75 per pound on the high side until October 16, compared with an average low of $13.08 per pound and a high of $13.85 per pound in September.
99.8 percent cobalt, which is used for aerospace applications, averaged $13.17 per pound on the low side and $14.04 per pound on the high side until October 18, compared with the September average low of $13.50 per pound and high of $14.47 per pound.
Prices for Chinese cobalt, minimum 99.8 percent electrolytic metal, rose slightly in October, averaging 216 yuan (US$34.29) per kilogram on the low side and 220 yuan ($34.93) per kilogram on the high side until October 16. In September, prices averaged 211.13 yuan ($33.55) per kilogram on the low side and 213.75 yuan ($33.93) per kilogram on the high side.
|Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.|