Mining Weekly reported that the price of high-grade cobalt has been on the rise since the beginning of the year and is now sitting at $13.50 per pound. The price is being pushed up by low cobalt supplies and uncertainty about the availability of concentrate from the Democratic Republic of the Congo.
Mining Weekly reported that the price of high-grade cobalt has been on the rise since the beginning of the year and is now sitting at $13.50 per pound. The price is being pushed up by low cobalt supplies and uncertainty about the availability of concentrate from the Democratic Republic of the Congo.
As quoted in the market news:
“Prices are nudging up due to the uncertainty and we’re seeing a bit of buying ahead of the ban coming into force in a market that is already tight,” said one physical trader.
Congo tried to introduce similar rules in 2007 and in 2010, but each time the decision was reversed and the practicalities of processing the ores in the country have come under scrutiny.
“They don’t have much electricity and that could pose a problem in terms of the process of refining the metal,” an industry source said.
“It may take years to get that infrastructure in place. I think ultimately common sense will prevail about the feasibility of this plan.”
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1774.96 | +1.14 | |
Silver | 19.90 | +0.01 | |
Copper | 3.55 | +0.07 | |
Palladium | 2124.59 | +12.40 | |
Platinum | 936.51 | +2.50 | |
Oil | 88.53 | -0.01 | |
Heating Oil | 3.20 | -0.13 | |
Natural Gas | 8.01 | -0.12 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured Battery Metals Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.