This is one of the problems with understanding the market. The cobalt price has actually traded at around $33-34 for a while. The price is largely guided by analysis from benchmark minerals - they release a quarterly (or monthly?) report, which is purchased by suppliers, buyers and analysts for around $10k I believe.
All us chumps tend to see is the LME spot price, which is FREE for all to see with Google, but only trades on a tiny percentage of the actual market volume and therefore is often inaccurate.
I'd encourage investors to look for summaries of the benchmark reports to get a better idea of the cobalt market and post them if they are available
