The exchange launched the initiative on March 26 this year, initially for six months, in an effort to encourage liquidity on its physically delivered cobalt contract.
Since then, Norilsk grade-I cut cobalt cathodes and Huayou cut cobalt cathodes have been listed as deliverable against the LME’s physically-delivered cobalt contract.
The LME also launched a cash-settled cobalt contract in March this year, settled against Fastmarkets’ industry-benchmark standard-grade cobalt price assessment, to better reflect the day-to-day operating of the cobalt market.
Fastmarkets last assessed the price of cobalt, standard-grade, in whs Rotterdam at $17.40-18.10 per lb on September 20, moving up on the low end from $17.25-18.10 per lb on September 18. Prices are next due to be assessed later today on September 25.
