(Bloomberg) -- Credit Suisse Group raised its price forecast for cobalt, a metal produced as a byproduct of copper and nickel, by 67 percent because of rising demand for the metal in the aerospace and gas-to-liquid industries.
Cobalt will average $25 a pound this year, compared with a previous forecast of $15, Switzerland's second-largest bank said in an April 12 report. Cobalt with 99.8 percent traded this week at $30.625, according to data from publisher Metal Bulletin. Prices may rise to $40 by the end of 2007, Credit Suisse said.
Read more at Bloomberg Commodities News
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