Spot prices for standard and alloy grade cobalt have continued to trend higher since the beginning of this week, driven by aggressive offers and a pickup in end-user demand in Europe and the United States, Fastmarkets heard on Wednesday July 7.
Available spot units remained in tight hands, with producers' availability low and traders holding back their offers in expectation of further price increases. Traders have been on a buying spree over the past fortnight in order to secure units in expectation of a pickup in demand, sources said.Fastmarkets assessed the price for cobalt, standard grade, in-whs Rotterdam, at $23.85-24.50 per lb on Wednesday, narrowing upward slightly from $23.75-24.50...