The price of standard-grade cobalt has hit a fresh high, reaching numbers not seen in nearly two years after non-Chinese consumers stepped into the market in the week to Wednesday January 20, with enough strength to help a two-week price rally continue after buying interest from China dipped.
Trading volumes were now at "normal" levels, according to one trader, after two weeks of furious activity when Chinese buyers entered the market to take advantage of the arbitrage after their country's government stockpiled the critical raw material.The latest price was the highest for the product since...