Horrible chart for sure, cycles come and go, is about all you can say and hope you hop on and off your buses at the right time, I believe buying most solvent Cobalts under $15/lb will look very good next year and even later this year.
Celsius (CLA) are latest to halt a project, but many others have demand corrected and if hindsight is any guide over corrected.
Not often do unintended consequences provide much comfort on markets, the Wood PLC review could well be seen as such in hindsight and this could be one delay that may prove to be to the projects good fortune.
Cobalt 12 months ago was$36 today $15 and has touched a low of $13.In material terms Cobalt Blue may have dodged a bullet with regard to timing, the old "If it does not kill you, makes you stronger" comes to mind. The cobalt chart is telling us no near-term sharp recovery and most industry pundits are seeing only soft improvement during 2019 with some momentum for cobalt 2020.
If Nostradamus had turned up around last Winter, he may well have called for a longish delay.
Cheers
Phil.
Horrible chart for sure, cycles come and go, is about all you...
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