Commodity Market Report
Global cobalt short-term outlook August 2023
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Report summary
Cobalt prices lost recent gains in August amid souring sentiment and slow battery demand. Slow economic recovery and lack of consumer confidence have translated to weak demand for key metal consumption areas, leading to lacklustre buying among traders and consumers. As a result, the benchmark price fell back to below US$16/lb at month end. The alloy cobalt market remained the bright spot supported by healthy aerospace growth, while the feedstock market was undermined by vacation and maintenance breaks.
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