Falconbridge ills at Norway smelter boost cobalt prices

Nov 17, 2005 | 11:03 AM | Chris Evans

Cobalt prices are soaring as buyers scramble for metal following news that Falconbridge Ltd., Toronto, has lost production at its Nikkelverk smelter in Norway.

BHP Billiton, which sends concentrate to Falconbridge Nikkelverk AS for refining, is now offering high-grade cobalt at $17 a pound, up from $12.10 earlier in the week.

"The market was looking for something to give it a boost," one European trader said. "People are panicking."....





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