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Key data from June 3 pricing session.
Low-grade cobalt in-warehouse ($ per lb)
High-grade cobalt in-warehouse ($ per lb)
Key drivers Spot volumes jump after recent lack of enquiries Consumers able to pick up at low levels on intense competition for sales
Some traders stocking up on anticipation of strength
Key quotes “We bought for storage as we got a cheap offer and we don’t think it’s going any lower.” Trader
Trade log
June 3
Low-grade About 5 tonnes at about $13.40 Less than 5 tonnes at about $13.40 Small sale at $13.40 Small sale at $13.85 Less than 5 tonnes at about $13.60 Large sale at about $13.35 Small sale at about $13.70 Small sale at about $13.70 Small sale at about $13.75 About 5 tonnes at about $14.15 Small sale at about $13.95 About 5 tonnes at below $13.40 (may fall below MB specification) Offer at $13.50 Large offer at $14-14.35 Several bids at $13.50 Bid at $13.45-13.50 Offer at $14.35 Offer at $13.80
High-grade About 5 tonnes at about $13.80 5-10 tonnes at about $13.55 Small sale at about $14.30 Small sale at about $14.25 More than 5 tonnes at about $13.80 Offers at $14-14.25 Offer at $14.50 Offer at $14-14.20 Offer at $14-14.20 Offer at $14
Total volume of all trades confirmed since previous pricing session: 52 tonnes Click here for the May 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