A recent downturn in the spot price for cobalt was not causing alarm among sellers because they were still seeing plenty of demand from customers with long-term contracts, sources have told Fastmarkets.
Fastmarkets' latest price assessment for cobalt, standard grade, in-whs Rotterdam, was $20.50-22.00 per lb on Monday April 26. This compared with $15.40-16.00 per lb a year earlier."There has been a significant call-off of contracted volumes and demand for formula tonnage, and that has been really dramatic, directly related to the traditional automotive industry," one...