OTCQX:SREMF - Post by User
Post by
reeJoeyon Apr 08, 2019 2:48pm
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Post# 29597994
"Prices could snap back quickly"
"Prices could snap back quickly"Posted on HotCopper board:
| Unknown - April 8, 2019 The benchmark standard-grade cobalt price rebounded in the last week of March, after having been under pressure during the previous five months, when traders and consumers returned to the spot market to restock following a rundown in inventories. Fastmarkets' standard-grade cobalt assessment rose 2.2% to $13.75-14.4 per lb on Friday March 29…In China, local cobalt prices quickly tracked the upsides seen in the international market which triggered strong inquiries from domestic consumers who had been minimizing procurement amid a falling market and keeping their inventory levels deliberately low…"As we have been saying for some time, with the elastic band stretched on the downside, prices could whip back quickly if bargain-hunting emerges. Having seen prices down close to 50% since the start of the year, and with strong growth reported in EV sales, downstream buyers might be looking to restock or investors might start to get interested," Fastmarkets analysts said in their latest battery materials trackers…With the market having become increasingly certain the benchmark standard-grade cobalt price has bottomed out, the question now on the minds of participants is how long the rebound could last, and how far the price could rebound. |