"Previously contracts for cobalt hydroxide, the raw material which is eventually turned into cobalt sulphate used in the rechargeable lithium-ion batteries that power EVs, were typically agreed at the Metal Bulletin price minus 10 percent.
No one at GEM was immediately available to comment.
Glencore declined to comment."
Further to your comments Mineralised, the above article suggests that prior cobalt hydroxide contracts "were typically agreed at the Metal Bulletin price minus 10 percent". If you use that as a base it could perhaps indicate that Glencore secured north of 90% on their deal given current market dynamics. Obviously if that were true then the 80% used in my assumption would be conservative. Time will tell.
NZC Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
