GlobalPost reported that a federal judge in Mexico has ordered the arrest of five men suspected of stealing a cargo truck containing radioactive cobalt-60 last week. A sixth suspect, a 16-year-old boy, was detained by the police, but then let go due to his age.
Cobalt Market News Directory
Metal Bulletin reported that according to Simon Bao, vice president of Jinchuan Group Marketing Company, prices for cobalt metal are likely to range between $12 and $15 per pound in 2014.
Metal Bulletin reported that low-grade cobalt prices have risen on the back of news that Eurasian Natural Resources Corp.'s (LSE:ENRC) Zambia-based Chambishi cobalt operation will be running at 50-percent capacity for up to six weeks.
Metal Bulletin reported that China imported 12,327 tonnes of cobalt ore and concentrate in October, up 52.73 percent from the year-ago period.
The Financial Times reported that the $2-billion cobalt industry, which for over two decades has used Metal Bulletin price assessments as a benchmark for transactions, is now switching over to the London Metal Exchange contract. Though the move is not expected to happen overnight, it is being described as "inevitable."
Metal Bulletin reported that attendees of the Nickel & Cobalt Conference, held recently in Chengdu, China, said that they have seen no signs of improvement in cobalt market sentiment in the last two years.
Metal Bulletin reported that Li Jianzhong, general manager of Beijing Easpring Material Technology Co. Ltd. (SHE:300073), said at a Chengdu-based conference that Chinese cobalt smelters can use cell phone batteries as a source of the metal.
MetalBulletin reported that prices for cobalt sank on Friday, with low-grade material falling to $12.10 to $13.20 per pound from a range of $12.20 to $13.30, and high-grade sinking to $12.60 to $13.50 per pound from $12.80 to $13.50.
MetalBulletin reported that as a result of high production in China, the availability of refined cobalt increased to 41,678 tonnes in the first half of 2013, an 11-percent increase from the same period last year.
MetalBulletin reported that in September, China's imports of cobalt ore and concentrate fell to 11,774 tonnes, a 22.8-percent decrease from the year-ago period and a 44.7-percent decline from the previous month.