Cobalt prices continue to sag, material plentiful, sale at 15.50 dollars

摘要

New York-Cobalt prices fell again last week as supply outstripped demand, with a handful of suppliers insisting the soft market is an aberration given strong demand from the aerospace sector. Buyers and suppliers in the US and Europe agreed that sales of low-grade, mid-grade and high-grade cobalt were made as low as 15.50/lb dollars and not much over 16 dollars on the high, down more than 1 from dollars the previous week. One merchant, for his part, remained incredulous that prices could be falling and was keeping quotes for Russian material firm at 16 dollars. A US consumer in the aerospace sector said he booked 10mt of high-grade cobalt at 15.50 dollars, the lowest reported sale last week. WMC Marketing posted its first sale of Falconbridge cobalt this month May 6, a 5mt sale to Europe for June delivery at 15.75/lb dollars-unchanged from the company's previous sale Apr 29. WMC was offering at 15.85/lb dollars for May delivery late last week. "Everyone is asking why cobalt prices are so low," said the merchant, referring to the expected surge in aircraft construction (and their cobalt-bearing engines parts) over the next decade or so. "The price will explode one day when you least expect it. It always does." But not at the moment. The Platts Metals Week US high-grade cobalt price fell May 5 to 15.50 dollars-16.25/lb from 16.45-17.00 dollars.