Cobalt prices continued to drift lower last week due to a lull in demand and increase in availability of offers for spot metal units.
Metal Bulletin's price assessments for low-grade and high-grade metal were unchanged on Friday May 11, after falling midweek. Low-grade cobalt prices fell 30 cents on the low end of the range, and 20 cents on the high end of the range on Wednesday May 9, to settle at $43.20-44 per lb, in-warehouse. High-grade cobalt prices fell similarly, ending the week at $43.20-44.05 per lb, in-warehouse, compared with $43.50-44.25 per lb a week earlier. "It's impossible not to expect a bit of a correction: it never took a breath [on the way up]," a trader said. Metal Bulletin's benchmark cobalt...