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North American cobalt prices flat

Data:2014-01-02 19:39hit:111
NEW YORK (Asian Metal) 24 Dec 13 - Prices for cobalt 99.8%min are flat at around USD12.10-12.60/lb d.d.p. The market remains stable with most consumers and distributors having already left for the Holiday Season. Final sales of the material over the past week are holding in the current range; however, most distributors appear content to hold prices until Q1 of 2014. The market is expected to remain stable through the rest of the year with prices picking up again in mid to late Q1 2014.
A North American distributor of cobalt 99.8%min is offering at USD12.20-12.45/lb d.d.p. The source revealed that he sold 5t of the material last week for delivery in late January at USD12.40/lb, but he admitted weak demand aside from the sale. The source reiterated that prices would return to a stable level during Q1 of 2014.
The source was cited, “I’ve already heard of more healthy prices for long-term contracts and rumors that prices will increase, so I am confident that Q1 will be a better market. Downstream demand for cobalt 99.8%min remains flat, so once consumers return, and distributors start to look at the whole year, prices will look healthier.”
A North American trader of cobalt 99.8%min recently is offering at USD12.10-12.50/lb d.d.p. The source revealed that he has received few inquiries for the material over the past week since the market has largely shut down for the Holiday Season. He continues to stockpile roughly 10t of the material, with little intent to push prices down to make a final sale.
The source explained, “Although prices for cobalt 99.8%min slid through most of December, I am content to hold out for a better market. Some traders and distributors aided this process by trying to make final sales and flooded the market with material. However, this late in the year, I am happy to wait and to see what happens. I’ve already heard rumors of better demand, so hopefully once next year starts, prices will rise back to the levels in October and November rather quickly.”