TORONTO (Reuters) - Sherritt International Corp said on Tuesday that recent weakness in the price of cobalt, a key material in rechargeable batteries, is expected to be temporary as demand continues to grow from the electric vehicle market.
Toronto-based Sherritt said prices softened in the second quarter on growing market sentiment that price gains had outpaced an increase in demand. Consumers then began delaying purchases, waiting for prices to bottom, the miner said.
RML Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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