Metal Bulletin reported that according to Darton Commodities, in 2013, global production of refined cobalt came to a total of 84,500 tonnes. That’s a 9.7-percent increase from the previous year.
Darton sees cobalt metal averaging $13 to $15 per pound this year, higher than its 2013 average of $12 to $13 per pound.
As quoted in the market news:
The increase in total refined output was attributed to the recovery in refined cobalt production in China, which reversed a downward correction seen in 2012.
This inevitably means a restocking of downstream product, Darton added in the annual report, prepared for its customers.
Production of refined cobalt chemicals and specialty products increased to 45,800 tonnes, up 13% from 2012.
Metal, excluding coarse powder, accounted for 38% of total refined output.
Production increased by 896 tonnes, a comparatively small year-on-year rise of 2.9%, to reach 32,060 tonnes.