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The London Metal Exchange (LME) saw record volumes transacted in LME Cobalt in March 2012 with 1,310 lots traded, the equivalent of $40 million.
“Our cobalt contract has seen a very healthy start to the year,” said Chris Evans, head of business development at the LME. “The strong volumes show growing recognition from the cobalt industry of the LME contract.”
Volumes were up 86% in Q1 2012 compared with the corresponding period in 2011. Over the quarter, 111 tonnes were delivered in and 63 tonnes delivered out.
LME Cobalt now has 19 brands listed from nine countries and 15 warehouses listed for good delivery in four locations in four countries.
