Cobalt Price Up, but Market Looking for Direction

Metal Bulletin reported that while the cobalt price inched up on Thursday, the market is still seeking direction.
Factors influencing the metal’s price include:

• Limited activity; summer slowdown brings lower spot volumes
• Well attended tenders of reasonable volumes receive lots of offers as sellers look to offload in quiet week
• Enquiries from consumers seeking top quality material achieve bigger premium
• 1 tonne good quality low-grade business achieves slightly higher price
• Market seeking direction as long-term demand indicators remain strong, but return of Chambishi production during the summer considered a dampener

Click here to read the full Metal Bulletin report.