COBALT SNAPSHOT: Standard grade moves higher; alloy underpinned

Key data from the March 9 pricing session in London

Cobalt snapshot

Key drivers

  • The price for standard-grade cobalt increases on the top end of the range; sellers hold firm with offers and are in little rush to drop them for low-volume inquiries.
  • The alloy-grade price holds firm, with several sellers citing market tightness on good demand being reported in the aerospace, medical implant and other downstream markets.

Key quotes:
- “It’s the beginning of the month so we’re not looking for metal. It’s calm at the moment, both on metal and intermediates. Our sales in January were good and February was fine, but it’s slowing down amid the coronavirus (2019-nCoV) outbreak. It seems that if customers are not booking volumes then suppliers may drop prices but they’re not in a huge rush” - trader 1

- “We are working on a few things and offering within range. Sentiment seems steady and there are some inquiries. Alloy grade is tight because the Chinese can’t export at the moment [since the outbreak of coronavirus] and, generally, there’s robust support for pricing since the Mutanda shutdown - trader 2

What to read next
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
Fastmarkets proposes to amend the frequency of its P1020A aluminium import premium assessment in Brazil to monthly, from fortnightly.
Prices for cobalt metal have witnessed a sustained rally and recovery in recent weeks, after hitting lows at the beginning of the year, even while market participants see challenging conditions on the supply side in the longer term
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.