US market sees cobalt prices softening
2010-02-16 11:20:42 【Print】
PITTSBURGH (Asian Metal) 16 Feb 10 - US cobalt traders report that the prices for cobalt metal are softening following as demand level from end-consumers decrease slightly. Market participants quote current market prices for cobalt metal 99.3%min at about USD20.50-21.50 and at USD21.50-22.50/lb CIF US.
A New York-based trader disclosed that the demand from US consumers of high-grade cobalt metal 99.8% has decreased this week. “We concluded a 10t tender to a Midwest-based consumer late last week at USD21.90/lb delivered. So far he has not received any additional requests.
“A lot of our consumers have secured enough stock for their inventories to last them at least through the end of March, as they remain uncertain what the effect of the future contracts launch on the LME will have on the market,¨ shared the source.
Another trader based in New Jersey, agreed that the cobalt prices in the US market are softening “A lot of our consumers did their best to secure material earlier this year, and will be watching the market rather intently and see what effect the LME will have,” said the source.
He disclosed that currently, prices for cobalt metal 99.3%min hovers at about USD21/lb and 99.8%min is closer to USD22/lb delivered domestically.
A New York-based trader disclosed that the demand from US consumers of high-grade cobalt metal 99.8% has decreased this week. “We concluded a 10t tender to a Midwest-based consumer late last week at USD21.90/lb delivered. So far he has not received any additional requests.
“A lot of our consumers have secured enough stock for their inventories to last them at least through the end of March, as they remain uncertain what the effect of the future contracts launch on the LME will have on the market,¨ shared the source.
Another trader based in New Jersey, agreed that the cobalt prices in the US market are softening “A lot of our consumers did their best to secure material earlier this year, and will be watching the market rather intently and see what effect the LME will have,” said the source.
He disclosed that currently, prices for cobalt metal 99.3%min hovers at about USD21/lb and 99.8%min is closer to USD22/lb delivered domestically.
