UPDATE 1-New LME 3-month cobalt contract trades at $41,800/T

Newswire

LONDON, Feb 22 (Reuters) - The London Metal Exchange's new three-month cobalt contract traded at $41,800 a tonne on Monday, while three-month molybdenum futures traded at $35,000 a tonne. That compares with a level of around $44,640 a tonne for Russian grade cobalt last week on the spot market in Europe and molybdenum oxide at $36,375 a tonne. The contracts were launched on Monday. "We're interested to see what happens, so we're watching it," a physical trader said. "We won't be doing ...

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