International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said.
Meanwhile, the
"mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.
Fastmarkets' benchmark price assessment for
cobalt standard grade, in-whs Rotterdam was $27.00-27.55 per lb on Tuesday October 26, widening up by $0.15 per lb from $27.00-27.40 per lb the previous day. The current assessment also is up by 14.48% from $23.40-24.25 per lb on September 1, when prices started to rise following the summer lull, driven by improved demand for the metal in Europe and the United States as well as lower stocks.
The alloy-grade equivalent spot market followed a similar uptrend, with most sources seeing the prices at parity at present.
"I am not convinced [spot] prices will slip after long-term discussions are done. It depends on how much producers are left holding for [the]...