Cobalt

The trends and forces driving the cobalt market

From continued growth in demand and market share for electric vehicles to the build-up of energy storage systems, cobalt is key in the global transformation to new energy sources. But there is a lack of diversity in the supply chain for battery and automakers. Roughly 70% of mined cobalt comes from the Democratic Republic of Congo – where the supply and reputational risks for manufacturers are well known – and 70% of cobalt processing occurs in China.

Logistics and shipping disruptions are still a key issue, and high prices for the battery material continue. In response, we’re seeing an even greater need for the recycling of cobalt for electric vehicles.

We provide data-driven insights and analysis to help you understand the market further. From cobalt price data to futures contracts, forecasts to market news, our experts provide you with intelligence on what’s driving the cobalt market.

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    • Cobalt 99.8% Co min, ex-works China, yuan/tonne
    • Cobalt standard grade, in-whs Rotterdam, $/lb
    • Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low-end)

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    What’s happening in the cobalt market?

    The structure of the cobalt market is changing as new, more diverse supply is brought to market and ESG considerations come more into focus. Get the latest cobalt news and analysis from our expert price reporters, analysts and researchers.

    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)

    Read on as Fastmarkets delves into a monthly market update, focusing on the dynamic and fast-evolving sector of battery raw materials

    German chemical producer BASF announced on Monday June 24 that it will exit a $2.6 billion investment in a nickel-cobalt refining project in Weda Bay, Indonesia due to significant changes in the nickel market since the inception of the project

    Fastmarkets rounds up the key discussion points at the 30th annual Cobalt Institute conference in New York, from May 12-14.

    Chinese cobalt metal prices fell to an eight-year low on Wednesday May 8, amid significant market oversupply and bearish sentiment, market participants told Fastmarkets

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