The London Metal Exchange （ LME） announces that the first twelve months of trading in cobalt and molybdenum has concluded with good volumes since the launch on February 22nd 2010.
Cobalt trading has performed particularly well, with 7,825 tonnes traded during the year to February 21st. Molybdenum trading was 3,498 tonnes during the same period.
Cobalt traded in a $35,000 - $48,000 per tonne range during the year with moly in a $30,000 - $40,000 range, indicating a total trading value on the exchange of over $430 million.
Warehousing in both metals was dominated by Rotterdam while Singapore and Baltimore also attracted good warehouse activity in cobalt.
Brand registration for both metals has also been good, with good delivery brands registered from ten cobalt producers and seven molybdenum producers.
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