TSXV:FCO.H - Post by User
Comment by
thecatherderon Aug 09, 2018 7:03pm
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Post# 28436852
RE:RE:RE:RE:RE:Cobaltprice falls 40%
RE:RE:RE:RE:RE:Cobaltprice falls 40%"All that can be manipulated is manipulated"....imagine the power of the large buyers in China for their smelters (largest market share in the world by far for smelting cobalt) and the largest country (Congo) with their largest miner (Glencore). For days or weeks the big kahunas can control global markets in the slow season particularly. My bet is that China bought cobalt ahead of demand and is de-stocking a bit. But Glencore is a bit like Saudi Arabia (used to be) in oil....Glencore can cut production as demand picks up toward the end of the year and squeeze the buyers with higher prices. Will they? Let's see if they do given they have a lot of Swiss based traders who know how to "manage" markets. Anyway, I'm in a few cobalt stocks including ECS with non-margined monies and years to capture the profits....I've been in ECS and their predecessor company for close to 20 years so I have staying power but wish I would have waited to first invest in cobalt related.
The Cat Herder