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Key data from July 15 pricing session.
Low-grade cobalt in-warehouse ($ per lb)
High-grade cobalt in-warehouse ($ per lb)
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