Cobalt prices lower on profit taking, fundamentals unchanged

Profit-taking and the absence of Chinese buyers from the cobalt metal market has resulted in the first dip in the price of cobalt in 2021 but the fundamentals of the market remained the same, sources told Fastmarkets on Thursday March 11.

Buyers which had speculated on cobalt during the latest rally, which has run since the start of the year, were now looking to sell off the metal they were holding, making cheaper offers available.
This was combined with an absence of inquiries from the Chinese, who have been driving the latest price rises. With fewer inquiries to work on, two sellers opted to take business well below the previous price range.

Fastmarkets'...

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