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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (26201)	2/24/2017 8:43:59 AM
From: Goose94	Read Replies (1) \| Respond to of 203397

Cobalt: Doesn't the U.S. military 140 tons stockpile of Cobalt for War Effort? From ceo.ca @nicholaslepan $Cobalt - hedge funds stockpiling some 6,000t of cobalt worth some $280m (Financial Times) - A number of hedge funds are reported to be stockpiling cobalt worth some $280m equivalent to around 17% of last year’s production - Global demand is expected by CRU to outstrip supply by 900t this year with demand to grow by 20% this year indicating to us that prices should rise dramatically - Cobalt prices have more than doubled to $22/lb from $10/lb a year ago but are still some way off their peak of $50/lb in 2007. - Cobalt is almost entirely produced as a by-product alongside copper and in polymetallic mines with Glencore controlling almost a third of the cobalt market. - The Chinese recently agreed to complete the purchase of the giant Tenke-Fungurume copper-cobalt mine a move which may have been as much for cobalt as well as copper supply. - SP Angel thinks the funds will make a killing on the metal as demand and prices rise although some traders reckon the funds may struggle to sell their cobalt into a thin market. - SP Angel recalls some years ago traders flying cobalt and coltan out of the Congo in low-flying planes to airstrips in Uganda, Rwanda and Burundi. The cobalt and coltan is extracted by artisanal miners in often informal high-grade deposits in the DRC.