Alloy-grade cobalt prices maintained their premium over standard-grade during the first half of this week amid a limited supply of cut cathode for spot market inquiries.
Fastmarkets assessed the standard-grade cobalt price at $15.90-16.95 per lb, in-warehouse, on Wednesday April 24, up 1.5% from the previous week's assessment. Alloy-grade metal continued to trade at a premium but saw slightly less pronounced gains. Fastmarkets' assessment rose to $17-17.80 per lb yesterday, up 0.9% from the previous range. Cobalt prices have recovered since the end of March, when they sat at 26-month lows, because traders and consumers have started to replenish stocks, but alloy-grade prices have led the way higher due to limited availability of cut cathode. Particularly, multiple sources reported limited production...