International cobalt spot metal prices continue higher on bullish sentiment in contract talks; consumers return to spot market

International spot cobalt prices have continued their trend upward over the past week, fueled by bullish sentiment in long-term contract negotiations due to next year's improved demand outlook, sources said.

Spot units remain in tight hands, with sellers offering aggressively, while some spot buying appetite has returned among consumers in the United States and the European markets following the completion of some long-term deals.
"Some consumers have decided to do not commit to more expensive long-term contracts year on year and decided to take their chances in the spot market," an intermediary source said.
Sources reported tight availability of certain cobalt metals' brands as one of the factors supporting spot prices and contracts' negotiations.

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