The price of cobalt is expected to trade lower this week at USD 51,265 per tonne
In addition to fears around possible supply tensions after the fire that occurred at the Nornickel site on September 14, 2022, cobalt should face a drop in prices this week on the international market.
After having started the month of September 2022 well, cobalt is expected to fall this week to trade at 51,265 USD per ton against 51,267 USD per ton last week, a drop of 2 USD.
According to the note from the experts of the Congolese Government’s National Commission on Market Prices, the general trend of the main mining export products of the Democratic Republic of Congo (DRC) should see a drop in prices on the international market for the period from from September 26 to October 1, 2022.
Within this reported period, only silver ore is expected to show a bullish trend in the market this week. It is expected to trade around $0.63 per gram from $0.61 per gram the previous week, a price increase of $0.02.
Copper is expected to tumble in the market this week to sell at $7,784.90 per ton from $8,001 per ton last week, a negative price differential of around $216.1.
Zinc is also down this week at 3,164.85 USD per ton against 3,238.7 USD per ton the previous week, showing a drop of 73.85 USD.
Tin also fell this week to 21,426 USD per tonne against 21,679 USD per tonne last week, a negative price difference of 53 USD.
As for gold, it would be trading down this week at 54.21 USD per gram against 55.61 USD per gram last week, a drop of 1.4 USD. Same downward trend for
tantalum, the price of which fell this week to 380 USD per Kg against 392 USD per Kg last week, i.e. 12 USD drop in price.
