Essential Power…Infinite Possibilities

July 18, 2014

Cobalt trades up to $15 per lb on producer tightness, SRB news

THIS IS NOT AN OFFICIAL COMPANY NEWS RELEASE
- FOR THE INFORMATION OF SHAREHOLDERS AND INTERESTED PARTIES ONLY -




MetalBulletin.com - July 18, 2014

Cobalt trades up to $15 per lb on producer tightness, SRB news

Buyers of cobalt metal in Europe are being approached by their customers for product, in anticipation that prices will continue to move up on news that China’s State Reserve Bureau (SRB) plans to build stocks, combined with producer tightness.

Low-grade cobalt prices moved up to the $15-per-lb level for the first time since April as a result, trading up $14.25-15 per lb on July 18, compared with $14-14.90 per lb on July 16.

On July 11 Metal Bulletin reported that China’s SRB would start making metal purchases, with some suggesting that the state-owned stockpile might buy as much as 1,000 tonnes.

“People think that SRB buying will take the market higher, and there are spot enquiries for product as a result, because customers want to buy before prices move up,” one buyer source said…..

To read more, Sign up for a Free Trial Metal Bulletin Membership

View the Previous News Release:
July 16th, 2014, China's SRB could buy about 1,000 tonnes of cobalt, sources say
View the main Cobalt News page.
View the Next News Release:
July 24th, 2014, China stockpiling strategic industrial metals - sources