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Message: Cobalt info
Re: Cobalt News - Thursday, February 14, 2008
Title: BHP-Billiton raises its cobalt offer price to $50
Publisher: Metal-Pages
LONDON (Metal-Pages) 14-Feb-08. The BHP-Billiton cobalt website made a further 5 tonne sale into Asia this morning at the company's offer price of $49.25/lb. It follows a similar deal yesterday at $48.75/lb, its first screen sale since 6 February when it sold 15 tonnes into North America at $48.50.
BHP-Billiton has subsequently moved its price up to $50/lb -- the market's target level and one which has been meeting a fair amount of resistance.
One UK-based trader commented: "The next stage has begun. Now watch for the low grades to catch up."
Russian producer Norilsk Nickel, meanwhile, maintains its offer price at $45.50, having sold 10 tonnes in one transaction at $45.55/lb last week.
-END-
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Message sent on Fri Feb 15, 2008 at 1:13:39 PM Pacific Time
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