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Cobalt disasters

2 February 2014

Due to the demand for cobalt in the production of special steel or alloy with unique working qualities of the metal production is constantly growing and evolving. Although natural resources an important strategic raw material in decline despite the steady growth of production and the opening of several new fields. This situation leads to a constant increase in the deficit in the cobalt market segment, and thus and thus to higher prices for the raw materials needed for industry. Price fluctuations in this area can be compared to a kind of rally that has been going on for a long time. After the analysis of pricing policies on Cobalt Metal Bulletin independent media experts have recorded growth of material cost by almost half a dollar for every pound of useful raw material for cobalt low and high maintenance. Moreover, increased volumes and important material sales in the background of price growth. In the first week of the new year, this figure is significantly and dramatically increased when compared to the same period last year. The determining factor for such a state of affairs has become systematic and continuous development of the production of special steel and a variety of power sources, both conventional and alternative properties. In these fields the cobalt is in high demand, and relevant, and hence the growth of production necessarily entail an increase in the cobalt raw material needs.

Despite such rapid price growth of an important metal producers we are not in a hurry to auction the entire volume of its reserves. After an abrupt increase in the cost of the most fleeting and lacked a solid foundation of stability. As in the recent past, cobalt suppliers have already faced with a significant glut cobalt market supply of goods, now considered unnecessary haste harmful and dangerous. Despite the abrupt rise in prices for cobalt and possible short-termism of the state of affairs in the near future promises cost of the metal to reach its record high. Another reason for this increase in demand for cobalt market can be a combination of high-quality metal deficit restocking at the beginning of the year all the companies that use similar raw materials in the manufacture of its products.

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