Cobalt traders said that spot business transactions appear to be less than in 2012, but that may just be because prices have been stable. “We can’t move high-grade cobalt except under yearly contracts,” said a trader. With the prospect of more cobalt production coming on the market from Ambatovy and Mopani, traders predict that a lot of material will be looking for a home. “I don’t see how any price rally, even it if happens, can last for more than a few weeks,” said a supplier. He expects cobalt to trade at $10-13 per lb for the rest of the year. Cobalt demand in the US is decent, said a seller, but Europe is soft and the rest of the world isn’t much better.