CONXF - Cobalt Miners News For The Month Of January 2024
2024-01-25 17:05:40 ET
Summary
- Cobalt spot prices were flat for the month. LME inventory was unchanged for the month.
- Cobalt market news - Oversupply, low prices for cobalt to persist in 2024 as demand slips. Most cobalt producers loss-making after 2023 price slump.
- Cobalt miners news - CMOC takes Glencore’s cobalt crown as output jumps 170% in 2023 to 55,526t of cobalt. Nickel 28 Ramu exceeding design capacity for a 7th consecutive year.
- Cobalt Blue third party feedstock test work has delivered up to 95-97% metal recoveries. The Metals Company - Pentagon to deliver report on domestic processing of Seafloor Nodules by March 1, 2024.
Welcome to the January 2024 cobalt miners news.
The past month saw flat cobalt prices and a quiet month for news.
Cobalt price news
As of January 24, the cobalt spot price was at US$12.90/lb , flat from US$12.90/lb last month. The LME cobalt price is US$28,185/tonne . LME Cobalt inventory is 92 tonnes, the same as the 92 level from last month. More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fast Markets MB ....
Cobalt Miners News For The Month Of January 2024