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July 16, 2014

China's SRB could buy about 1,000 tonnes of cobalt, sources say

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MetalBulletin.com - July 16, 2014 - Shanghai

China’s SRB could buy about 1,000 tonnes of cobalt, sources say

After Metal Bulletin reported last week that China’s State Reserve Bureau (SRB) has invited 10 companies to start cobalt purchases, market participants have said that the SRB could stockpile about 1,000 tonnes of the minor metal.

“Given the number of invitations the SRB has sent out, it would be meaningless to purchase fewer than 1,000 tonnes,” a source said. The SRB has invited over 10 companies, mostly major cobalt producers and traders, for the purchase, market sources told Metal Bulletin last week. “We expect the purchase volume to be between 1,000 and 2,000 tonnes,” another source said. The bureau would give three months for delivery of the material…

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