Low-grade Cobalt Prices Rise on Chambishi News

Metal Bulletin reported that low-grade cobalt prices have risen on the back of news that Eurasian Natural Resources Corp.’s (LSE:ENRC) Zambia-based Chambishi cobalt operation will be running at 50-percent capacity for up to six weeks.

As quoted in the market news:

The Zambian plant will be operating at 50% of its cobalt output capacity for up to six weeks after the transformer blow-out, owner ENRC confirmed to Metal Bulletin earlier this week. Although ENRC told Metal Bulletin that it was too early to confirm whether metal would be offered on the spot market while production was reduced, some market participants expect a reduction in spot availability as a result.

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