Recent sp appreciation likely due to stockpiling news. IMO game...

Recent sp appreciation likely due to stockpiling news. IMO game on if/when the U.S and/or Europe follow China's lead.

Feels like a bit of smoke and mirrors going on right now?

Here's a few related headlines and links...

Exclusive: China state stockpiler aims to buy up to 15,000 T of cobalt, sources say
By Pratima Desai May 24, 2024
https://www.reuters.com/markets/com...buy-up-15000-t-cobalt-sources-say-2024-05-23/

China shows how Western governments should stockpile minerals
https://www.aspistrategist.org.au/china-shows-how-western-governments-should-stockpile-minerals/

Cobalt fails to react to bullish news
Sentiment picked up following China’s State Reserve Bureau (SRB’s) announcement to buy 15,000 tonnes of cobalt, significantly higher than previous years (3,000 tonnes in 2020, 8,500 tonnes in 2023).
This highlights the oversupply and ample availability following last year’s capacity increases in the DRC & Indonesia.
SRB purchases may temporarily disrupt Chinese exports later this year, but given the oversupply, price increases are not guaranteed.
https://www.fastmarkets.com/insights/fastmarkets-battery-raw-materials-market-update/