Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (18446)	1/10/2003 11:12:44 AM
From: herenow_2	Respond to of 23153

Thanks. Here's Reuter's article on recent cobalt price increases: Reuters WMC raises cobalt price to near $8.00 Friday January 10, 7:30 am ET LONDON, Jan 10 (Reuters) - Australian metal producer WMC Ltd (Australia:WMR.AX - News) raised its cobalt offer price on its website on Friday to just under the $8.00/lb level, maintaining the 2003 rally that has seen the market jump to four-month highs. The producer is now offering its 99.8 percent cathodes (COB-CATH-LON) at $7.90 a lb, up from its previous offer of $7.60. On Thursday, it sold five tonnes of metal into Europe at $7.50 a lb, its highest trade since June 2002. Traders said the current strength in prices, which are around $1.00 a lb above levels that prevailed in mid-December, is due to a shortage of nearby metal and a pick-up in consumer enquiries. Other producers are said to have little material for early-2003, having made sales in the final quarter of 2002 for this period. The trade, meanwhile, are reluctant to sell their stocks. Also, the latest U.S. stockpile tender is likely to attract reasonable interest. Earlier this week the U.S. Defense Logistics Agency (DLA) posted on its website an offering of around 123,279 lb of Gecamines cathodes, ranging from 99.855 pct to 99.87 pct. Traders expect this metal to go in the $6.70 to $7.00 area. U.S. specialty chemicals company OM Group Inc (NYSE:OMG - News), the world's largest cobalt refiner, has also raised itd website price recently. Its offer stands at $7.80 a lb, although it has not transacted web business since September 2002.