Exotic Metals & Hedge Funds
Filed in archive Hedgetalk by Alex Akesson on April 30, 2007
More hedge funds are knocking on the door of trading firms to try to find a way to take a position in cobalt. Unlike copper and nickel, though, cobalt is not traded on an exchange. so the market can be opaque and accurate pricing data hard to find.

Edwards-Jones, managing director of brokerage Lloyd Edwards-Jones. "If you want to trade cobalt, the best thing is to buy a big chunk of Camec (CFM.L:)" he said, referring to a London-listed company that, among other projects, mines cobalt in the Democratic Republic of Congo.The advantage of buying shares in a company that produces more than one metal is that should prices fall in one market, the negative impact on share price could be offset by a price rise for another commodity it produces, he said.
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