CMOC expects its growth rate of cobalt supply to gradually ease in the second half of 2024, the company said on August 23. Market participants, however, were divided in their response to the announcement, with some expecting the output reduction to alleviate the current imbalance between supply and demand in parts of the market.

Read Fastmarkets' monthly battery raw materials market update for September 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more

Signals of oversupply are caused by newly signed contracts and delays in seaborne logistics, said cobalt traders

Africa is known for being home to many key resources, including copper and cobalt, but it’s equally known for its persistent logistics issues, such as trucking strikes, shortages of transport capacity and congested ports, which have caused constant delays in shipments from the region.

Less than a year after launching, open interest on the Chicago Mercantile Exchange (CME) cobalt hydroxide futures contracts has reached 1,000 lots, an all-time high

Read Fastmarkets' monthly battery raw materials market update for August 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more

Understanding the greatest risks and the impacts to the supply chains of critical raw materials including battery raw materials, green metals and rare earths

Chinese cobalt metal prices plummeted on Friday July 26 to the lowest level since July 2016, which market participants attributed to a surge in production and weak downstream demand

Chinese mining giant CMOC reported a 178% year-on-year increase in cobalt metal production for the first six months of 2024, according to an announcement by the company on Friday July 12

China’s nickel-cobalt-manganese (NCM) battery output in June registered fell to 20.5 gigawatts hours (GWh), down by 1.5 GWh, or 6.8%, from the 22 GWh in May, and down by 3.7 GWh, or 15.3%, from the 24.2 GWh in March, according to the data from China Automotive Battery Innovation Alliance (CABIA)