Chinese buying, upstream tightness push cobalt metal prices to 10-month highs

Cobalt metal prices have continued to rally so far this week, with the latest round of Chinese buying tightening supply and emboldening sellers to hold out for higher prices.

"Metal continues to move upward day by day, and you can't get the same low offers you got the day before," a distributor source told Fastmarkets.
Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam moved up to $17.55-18.10 per lb on Thursday January 14, up from $16.70-17.15 per b at the end of last week and up more than $2 per lb compared with $15.30-15.90 per b at the end of last year.

The price for cobalt alloy...

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