Cobalt rally loses steam; price positivity remains

May 02, 2012 | 10:39 AM |

Cobalt's recent free market rally may have lost steam, but producers remain convinced that a further uptick is likely. Prices were stable in mid-week trading, with a low-grade range of $14.05-15.10 per pound, and high-grade material trading at $14.65-15.90.  This week's business, described by one participant as “deathly quiet”, was transacted mostly within the current ranges. Tight supplies and strengthening demand supported cobalt prices this week, but the market was divided on May price direction.  Some claimed that prices are about to take a....

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