Exclusive: Chinese battery firm halts purchases of cobalt from Glencore - sources
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LONDON/BEIJING (Reuters) - Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM said in a March 14 regulatory filing that it would buy 52,800 tonnes of cobalt from mining and trading giant Glencore between 2018 and 2020, without revealing the price.Cobalt prices on the London Metal Exchange have nearly halved to around $55,000 a tonne..