Key data from July 15 pricing session.


Low-grade cobalt in-warehouse ($ per lb)

Today

Previous

Today’s weighted average of confirmed trades

Previous weighted average

Change to midpoint of range

Midpoint % change

13.50-14.30

13.50-14.30

13.80

13.95

0

0



High-grade cobalt in-warehouse ($ per lb)

Today

Previous

Today’s weighted average of confirmed trades

Previous weighted average

Change to midpoint of range

Midpoint % change

13.65-14.65

13.60-14.60

14.42

14.03

+5

+0.36



Key drivers
-Summer slowdown takes hold in Europe, with limited consumer business
-US aerospace only sector experiencing significant spot demand, supporting high-grade prices
-Producers hopeful that September will bring pick-up in volumes

Key quotes
"On cobalt it's fairly quiet. The summer's here. The LME's gone quiet after a recent flurry of activity."
Trader

"It's extremely quiet. Traders seem bored by the cobalt market. My customers assume that cobalt prices could go down because of the base metals price falls, but I really don't know if I could buy at $13.50."
Consumer

"To me, it's a simple matter of fact. Of course there's not much activity; it's the summer. But fundamentals are still bloody good, unlike for other metals. There's not been any oversupply."
Producer


Trade log

July 15

Low-grade (per lb)

Small sale at about $13.80
Less than 5 tonnes at about $14.45

Offer at $14.10
Offer at $13.90
Offer at $13.90
Offer at $13.80
Bid at $13.90

Deal heard at $14.20

Assessment at $13.50-14.30
Assessment at $13.50-14.30
Assessment at $14.20
Assessment at $13.90
Assessment at $13.50-14.30
Assessment at $13.50-14.30
Assessment at $14
Assessment at $13.95
Assessment at $13.60-14.30
Assessment at $13.50-14.30

High-grade (per lb)

Small sale at $14.40
Small sale at $14.30
About 10 tonnes at $14.65
About 5 tonnes at about $14
Small sale at about $14.30

Offer at $14.40
Offer at $13.80

Assessment at $13.60-14.60
Assessment at $14.40-14.50
Assessment at $13.60-14.60
Assessment at $13.60-14.60
Assessment at $13.65-14.65
Assessment at $13.60-14.60
Assessment at $13.60-14.60

China (MB China domestic, min 99.8%, RMB/tonne)

About 5 tonnes at 218,000
More than 20 tonnes at about 223,000
Deal heard at 220,000
Deal heard at 217,000-222,000

Total volume of all trades confirmed since previous pricing session: 52 tonnes

Click here for the July 2015 trade log
Click here for the June 2015 trade log
Click here for the May 2015 trade log
Click here for the April 2015 trade log

Click here for Metal Bulletin’s cobalt pricing specifications
Click here for Metal Bulletin’s cobalt premiums specifications

Fleur Ritzema
fritzema@metalbulletin.com
Twitter: @FleurRitzema_MB