CELSIUS RESOURCES LIMITED. (ASX:CLA) - CLA - Cobalt related news, page-2324 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by Jskl76 ↑

Can't comment on people ranting about the SP performance, they're entitled to blame whoever they want, I don't really care.
However, I have a theory about the cobalt price. China controls the majority of both the cobalt supply and demand. DRC cobalt mostly goes to China, plus China also has stakes in the producers there. Refining all happens in China. Battery making, a lot of it is in China. Hell, even the LONDON Metals Exchange, LME, is owned by a Hongkong company!
When a single entity has such a complete control, surely they would wield it to their benefit. And the best way to benefit themselves is to make the price of cobalt be so low that it would crush the hopes of any new would-be cobalt producers, who are most likely to be not Chinese. Once that is achieved, all they have to do is swoop in and buy up the prospects for chump change. The other effect of low cobalt price to China is that it benefits more industries there than it damages. It benefits refiners, battery makers, carmakers, etc, while it only damages possibly only the mining companies. China has a stake in the mining companies, but hell it has higher stakes in all the other industries that benefit from low prices.
So, my theory is that the cobalt price as it is, is being manipulated by the Chinese. No idea how this situation can change for the better!

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I would say that's a part of it.

Wouldn't surprise me one bit if Glencore we're behind the dropping price of cobalt either to use as a bargaining with the DRC.

They cry 'poor us' and make out these projects won't be viable with an increased tax and threaten to cut back turnover (effecting DRC $).

Either way they can only hold it down for so long. The new technological age isn't going to supply itself.

Macro manipulation at its finest.

The tables will turn. With commodities they always do.

Question is do you wait for the flock to figure it out or do you back your instincts and become an early entrant to hold the most risk but also the most rewards in the long run...

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Last 1.1¢		Change 0.001(10.0%)		Mkt cap ! $29.13M

Open	High	Low	Value	Volume
1.0¢	1.1¢	1.0¢	$35.54K	3.534M

CLA - Cobalt related news, page-2324

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