The most common and most likely answer to this crossword clue is the 6 letter word COBALT
I've seen this crossword clue in The Daily Telegraph
C
O
B
A
L
T
More clues leading to the result COBALT
- Metal arm worn by retired sailor
- Cold old Latvian perhaps in his element
- Blue bed keeps little dog going round
- Co-pilot finally completes putting fuel over nose of Boeing
- Horse, key element
- Fellow Lithuanian, perhaps, is blue
- Loaf, key element
- Raw youngster entertains academic element
- Junior sports team member lapping graduate, a blue
- Business with type of curry lacking one element
Buddy explains!

The straight part
We know that "blue" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case blue = cobalt.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does COBALT mean?
COBALT noun- A chemical element (symbol Co) with an atomic number of 27: a hard, lustrous, silver-gray metal.
- Cobalt blue.