Cobalt metal prices fell again Wednesday on low spot demand as sentiment was knocked by news that a Western consumer was looking to sell 30 tonnes back to the market.

"One customer has asked (its supplier) to explore the possibility of selling around 30 tonnes," one market source said. The material was bought to fulfill an order for one of its customers and the seller is acting as an intermediary in offering it back to the market, traders said.

At present, the cobalt price is about $14/Lb and price of Chinese import cobalt ore is $13.5-14.5/Lb.