Benchmark cobalt prices edged lower again at the end of last week after some sellers cut their offers to secure larger tonnage inquiries after an early start to the quieter summer period.
Fastmarkets MB assessed the standard-grade cobalt price at $16-16.55 per lb, in-warehouse, on Friday May 24, down from $16.20-16.75 per lb on May 22. Buying from consumers has tailed off in the past few weeks, and those with units to sell are offering more aggressively to get material off their books. "Demand is quite healthy but customers expect prices to fall...