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COBALT PRICE IS IN ITS LOWEST LEVEL SINCE MARCH 2009: 19/11/2012

COBALT PRICE IS IN ITS LOWEST LEVEL SINCE MARCH 2009 ACCORDING TO METAL BULLETIN.

The "low grade" cobalt price fell under the barrier of $ 11 per pound on last Friday 16th when just last Wednesday was being trade between 11.20 to 12.

This price falling, according to Metal Bulletin, is due to the strong pressure of producers and traders that do not even expect to receive requests from consumers to issue them. The prices in the spot market are very weak since the main interest of consumers is focused on long-term agreements.

Due to the low Co pricing, the Chinese market has increased significantly its demands of Cobalt metal because at the current price levels Chinese consumers find it more interesting than buying metal concentrates.

 

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