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 tetroxide 72.6% Co min, delivered China, yuan/tonne
    • Cobalt standard grade, in-whs Rotterdam, $/lb

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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.

    Uncertainty over growing bullish sentiment in the cobalt market is among the main conversation topics likely to feature in meetings throughout LME Week, which runs from October 9-13

    The combination of slow demand and oversupply has been putting pressure on the price for cobalt, with part of that pressure coming from the changing preference in battery chemistry toward lithium-iron-phosphate (LFP) batteries and away from nickel-cobalt-manganese (NCM) batteries

    The cobalt hydroxide market has increasingly switched to conducting transactions on an outright $ per lb basis in 2023, due to cobalt metal price volatility and uncertainty in the hydroxide market

    Australia-based cobalt and nickel supplier Jervois Global has opted to ‘moderate’ the pace of restart operations at its Sao Miguel Paulista (SMP) cobalt and nickel refinery in Sao Paulo, Brazil

    China’s automotive output and sales both fell in July, on a month-on-month and year-on-year basis, because of reduced seasonal demand in the summer season and the higher base in July 2022, the China Association of Automobile Manufacturers (CAAM) said this week

    An oversupply of cobalt and a subsequent price slump have led to trader and producer Glencore considering stockpiling and curtailing production of the blue metal, the company said during its earnings call on Tuesday August 8

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