COBALT SNAPSHOT: Buoyant Chinese market gives confidence to international price gains

摘要

Key data from the Wednesday September 18 pricing session in London. - Benchmark prices for cobalt metal continue to rise, with higher prices for metal and sulfate in China giving confidence that the recent rally – since Glencore announced it would close Mutanda at the end of the year – can be sustained. - When international cobalt metal prices turned at the end of March and in April, Chinese prices held relatively steady, contributing to limited longevity of the price gains elsewhere. - Market sources reported limited consumer buying, mainly comprising inquiries around 5-10 tonnes, but enough to keep prices supported. Some buyers are keeping a watch on the market before buying, after seeing prices quickly lose their earlier gains in May