2013 Characterized by Weak Cobalt Prices

Metal Bulletin reported that cobalt industry members believe 2013 will be remembered for price falls. And unfortunately, even the Democratic Republic of the Congo’s planned ban on copper and cobalt concentrate exports does not look set to push prices up.

As quoted in the market news:

On January 2 2013, low-grade cobalt was sitting at just $10.50-11.90 per lb, a far cry from the days of close to $50 per lb. General metal oversupply, combined with the arrival of material from new operation Ambatovy, had knocked prices to a three-year low in December 2012. The first quote of 2013 turned out to also be the lowest point of the year. But it set in motion a trend of deflated and unusually rangebound prices.

Click here to read the full Metal Bulletin report.