Cobalt market is strong in North America
2006-09-01 10:17:31 【Print】
BEIJING (Asian Metal) 1 Sep 06 – Over the last one and half month, cobalt market kept on rising based on the strong demand. This week, the pace of the price rise slowed down and market participants reported to Asian Metal that market is still strong as the nickel and copper prices are still high.
A North American trader told Asian Metal that he had received more inquiries in the last two months than the total number of inquiries in the 1st half of the year. “Demand is strong from the super alloys industry and is likely to maintain strong for a while.”
The source takes the high copper price is affecting the supply of the cobalt concentrate when the copper market is more profitable. “The high copper price had drawn the focus of the world earlier in the year and even now.” The Congo political situation is having some effect to the cobalt supply market too but “Congo is always in mess,” said the trader.
The trader revealed that the price of 99.8%min cobalt cathode in the North American market is about USD18-20/lb depending on the qualities. “The higher grade material is in higher demand with much higher prices.” Furthermore, the 99.3%min cobalt ingot is selling at around USD17.0/lb.
The trader believes the price will continue to rise, but in a slower pace in September, and we might see USD25-28/lb later this year.
A North American trader told Asian Metal that he had received more inquiries in the last two months than the total number of inquiries in the 1st half of the year. “Demand is strong from the super alloys industry and is likely to maintain strong for a while.”
The source takes the high copper price is affecting the supply of the cobalt concentrate when the copper market is more profitable. “The high copper price had drawn the focus of the world earlier in the year and even now.” The Congo political situation is having some effect to the cobalt supply market too but “Congo is always in mess,” said the trader.
The trader revealed that the price of 99.8%min cobalt cathode in the North American market is about USD18-20/lb depending on the qualities. “The higher grade material is in higher demand with much higher prices.” Furthermore, the 99.3%min cobalt ingot is selling at around USD17.0/lb.
The trader believes the price will continue to rise, but in a slower pace in September, and we might see USD25-28/lb later this year.
