![]() “These units were all going somewhere but now some of the market will be out. The trader said a fire in the cobalt section of Norilsk Nickel Kola shop in September has implications. "Demand is strong for aerospace and super alloys, but this is mostly in the US," the trader said.Ī third European trader was more bullish and said there is still room for prices to go higher, "probably to $27/lb". "This increases pressure on producers to compete for spot sales and they are eager to book the few spot enquiries they receive.”Ī second European trader said the market is quiet with limited inquiries. "Monthly volumes are starting to come off and people are taking a more cautious approach toward consumption levels," the trader said. The trader said European demand was slowing in numerous end-user applications. Some might be able to achieve better numbers in the US, where it is more isolated from cheaper Chinese material." "Spectrum is also grade specific, with alloy grade offered closer to $26/lb, but with a generic specification, offers will be more aggressive. “The wide spread is reflective of a general sense of uncertainty people have, to do with economic headwinds coming our way," a European trader said. Tradeable levels were heard in the $24.50-$27.25/lb range for prompt delivery, IW Rotterdam. The European cobalt market moved higher during the week, with participants struggling to reach consensus on where metal prices lie. ![]() The assessment was for spot cargoes aligned with the Platts methodology, loading 15-60 days out. Platts assessed 30% Co cobalt hydroxide at $15/lb CIF China Oct. “Recently it is quite quiet for our side as well with regards to inquiries, the demand from the market is weak and most people still have inventories at hand,” said a market participant in Asia. 7 due to minimal market activity as China slowed for the Golden Week celebration. Asian cobalt hydroxide prices were stable in the week ended Oct. ![]()
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