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Print[Ferro-alloys.com] In US market, Cobalt prices inched upward as traders said they were able to conclude spot sales at higher prices provided they had the right quality for nearby delivery. “There are customers out there. The problem is that they are coming into the market only on occasion,” a supplier said. Spot prices for 99.8% Co were USD13.25-13.80 per lb for 99.8% Co and USD12.50-13.00 for 99.3% Co. Even though concentrate exports from the Democratic Republic of Congo are unlikely to be disrupted by a government ban or taxes, some traders believe that concentrates are tight in China. This tightness is having little influence on metal prices. Chinese processors are less concerned about a possible ban on concentrate exports, said a trader, than they are with the idea that all of the hydroxide from Freeport’s Tenke will be shipped to Kokkola for processing rather than to China. “With the exception of Jinchuan, most of the Chinese cobalt production does not make sense. The producers don’t have a domestic supply of feed and they have not been successful at forming long-term supply relationships with consumers,” a trader noted.
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