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PrintDemand was curtailed slightly last week as buyers seemed to be mostly watchful due to recent price increases. After growth in the early portion of last week, the market held at $14-14.50 per lb for Co 99.8% material to close out the week. Supply availability for prompt delivery remained tight; however, as a result, buyers were more calculated on their purchases. “I would say that I saw some additional inquires because of speculation,” said a seller, “but nothing solid.” What began as mostly inter-trade activity has garnered the attention of the downstream market as inquires were substantially higher than weeks past. Small lot outlier sales were recorded above the current price range, reportedly reaching the $14.80 per lb mark; however, standard partial truckload volumes were indicated at $14.30 per lb. Others noted that there have been some steady price increases and a few more RFQ’s, but nevertheless, demand has not been substantial enough to merit major increases. “There is some interest in forward buying,” said a source, “but nothing concrete just yet.”
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