Resolves YES if cobalt and nickel scrap prices show less than a 5% variance in monthly average prices over the three months leading up to the end of Q2 2024, as reported by authoritative industry sources such as Metal Bulletin or Fastmarkets. This stabilization is significant as it impacts the secondary supply of cobalt and nickel, which in turn affects the demand balance for primary supplies. Current trends show a decline in scrap prices, influenced by market pessimism and cautious purchasing behaviors. The threshold for stabilization is set to capture whether the market can overcome these pressures and achieve price consistency.

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