TSXV:FCO.H - Post by User
Comment by
thecatherderon Aug 08, 2018 11:58am
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Post# 28427542
RE:Cobaltprice falls 40%
RE:Cobaltprice falls 40%As far as I know, the summer spot market for Cobalt (and precious metals) is "thin" with the large quantities contracted each year at the end of the calendar year. So, maybe the large buyers already have their 2018 needs under contract? It would be not so hard for large cobalt raw materials purchasers (including the China refineries) to boycott the market this summer as they may have stockpiled earlier in the year. I'm no expert in real time but I read a fair amount. Some similar experiences with summer markets have occurred with coking coal which is also a large Chinese purchase under annual contracts (with a thin summer spot market). Those on the board who get the real time quantities and prices daily through trade sources please chime in,
The Cat Herder