RE:RE:RE:RE:RE:Cobalt price dropped!Well I'm glad I humor you. I also appreciate the class on the obvious... what happens when one clicks once on LME.com prices (however irrelevent that is now since everyone talks "Cash" prices for Cobalt, not the futures).
I will cede that a "glitch" is a bit hard to swallow. However, you must cede there are unexplained anomolies.
For example: explain the following graph (where Trading Economics has Wed price dip only slightly, but LME is completely off the charts?):
Explain to me why Metal Bulliten reported early Thursday that :
""Low-grade cobalt prices rose on Wednesday August 2, with suppliers reporting tight supply and frequent enquiries, leading to strong sales volumes.", when it crashed 12%.
Explain to me why the market crashed on non-news. Everybody knows battery makers are trying to limit Cobalt. They also know that they have been trying to do so for years, that it will take years to test changes, and this slight dip in Cobalt ratio being reported won't even occur until well after 2020. And explain why it popped back up the next day with no retraction.
So, maybe not a "glitch". However, something unexplained occured. Yeah, the Cobalt market is sensative (LME even more so since it represents a fraction of the world's Cobalt, I think I read only 30%; certainly withoutthe worlds biggest market China). However, I don't think I've seen a 12% one day dive and recovery ever. Especially on non-news.
So, who knows...