TSXV:FCO.H - Post by User
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JulianAssangeon Jun 30, 2016 10:08am
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Post# 25011945
215 Tonnes of Cobalt Taken out of Market
215 Tonnes of Cobalt Taken out of Market The temporary shutdown at Madagascan nickel and cobalt producer Ambatovy and enduring tightness in the scrap and ferro-nickel markets should support nickel premiums in Europe over the coming weeks, market participants told Metal Bulletin.
Sherritt International last week announced it had brought forward a planned, 14-day shutdown due to a blockage at the Ambatovy plant’s tailings pipe. Nickel briquettes are trading with premiums in a range of $125-200 per tonne on an in-warehouse Rotterdam basis, and the closure should support the high end of the range for now, a trader said. At Ambatovy's nameplate production, the two-week shutdown will take about 2,300 tonnes of nickel and 215 tonnes of cobalt out of the market. Low-grade cobalt prices rose to $10.65-11.20 per lb from $10.50-11.20 per lb as availability of metal tightened slightly.
https://www.metalbulletin.com/Article/3566395/Search-results/Ambatovy-shutdown-solid-demand-support-European-nickel-briquette-premiums.html?term=Cobalt&onlyCurrent&filters=%7B%22dates%22:%5B%22last%2024%20hours%22%5D%7D