Cobalt metal prices in China have risen steadily since late December due to a combination of restocking activity ahead of the Chinese New Year holiday (January 24-30) and a recent rally in share prices of domestic cobalt-focused companies.
Fastmarkets assessed the price of cobalt 99.8% Co min, ex-works China at 270,000-285,000 yuan ($38,757-40,910) per tonne on Friday January 3, up by 15,000-20,000 yuan per tonne - or 6.7% - from 255,000-265,000 yuan per tonne on December 20. The latest assessment is equivalent to $15.52-16.39 per lb, minus Chinese value-added tax.Several market sources believed...