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BBBMF - Cobalt Miners News For The Month Of October 2019
BlueBird Battery Metals Inc.
Welcome to the October 2019 cobalt miner news. The past month saw cobalt prices slightly lower after recent rises; however, LME inventory fell significantly. The biggest news for the month was the multi-year LG Chem (LGCLF) deal to acquire cathode material from Umicore. LG is said to be supplying Tesla (TSLA) for the Chinese Tesla Model 3 production.
Cobalt price news
As of October 21, the cobalt spot price was US$16.10/lb, down slightly from US16.56/lb last month. The LME cobalt price is US$35,000/tonne. LME Cobalt inventory was 711 tonnes, down significantly