Cobalt market on rise

BEIJING (Asian Metal) 25 Jul 06 – Last week was a fairly busy week for the BHP Billiton who made sales of 80t in total and the price jumped from USD13.80/lb in the beginning of the week to USD14.90/lb at the close of the week.Asian Metal Copyright00lb jump.Asian Metal Copyright Meanwhile, Norilsk also raises the quotation of its 99.Asian Metal Copyright”Although there are 33 presidential candidates in Congo, only several have hopes to be elected, and the miner is confident that the mining business will not be affected by the election.Asian Metal Copyright3%min cobalt ingot to USD13.25/lb in the week 29.Asian Metal Copyright”The trader is also concerned in the situation in Congo.Asian Metal Copyright

“This is typical BHP movement,” said a European trader, pointed out that BHP always raises the offer after a cobalt deal. According to the trader, the market is still quiet and almost no deals were concluded in the spot market.Asian Metal CopyrightBEIJING Asian Metal 25 Jul 06 – Last week was a fairly busy week for the BHP Billiton who made sales of 80t in total and the price jumped from USD13.Asian Metal Copyright

However, many people are talking about the higher prices now. “Even Chinese Jinchuan cobalt is selling at higher prices in the world market.Asian Metal CopyrightHowever, many people are talking about the higher prices now.Asian Metal Copyright” The trader claimed that he sees average of USD0.Asian Metal Copyright40lb rise in the cobalt prices, “but not like BHP’s USD1.Asian Metal Copyright20-0.40/lb rise in the cobalt prices, “but not like BHP’s USD1.00/lb jump.Asian Metal Copyright “Even Chinese Jinchuan cobalt is selling at higher prices in the world market.Asian Metal Copyright”

The trader is also concerned in the situation in Congo. “Congo is controlling the smuggling of concentrate which may raise the price too.Asian Metal Copyright “Congo is controlling the smuggling of concentrate which may raise the price too.Asian Metal Copyright”

A Congo miner told Asian Metal that not only the smuggling is getting more difficult, and the Congo government is encouraging private investment. “A new mine just put into production a few days earlier and the market is getting more organized.Asian Metal Copyright40lb rise in the cobalt prices, “but not like BHP’s USD1.Asian Metal Copyright”

Although there are 33 presidential candidates in Congo, only several have hopes to be elected, and the miner is confident that the mining business will not be affected by the election.