Cobalt long-term forecast

Insights and expert economic modeling to give you unmatched clarity into how the cobalt market will evolve

Our cobalt long-term forecasts are part of a set of products including long-term forecasts for lithium, graphite, nickel, copper, manganese sulfate and recycled materials

Cobalt remains a critical battery material for the electric vehicle (EV) and energy storage system (ESS) markets – with the EVs becoming the largest demand segment in 2022. At the same time, the structure of the cobalt market is changing as new, geographically diverse supply is brought to market and the increased focus on ESG is leading to strides in cleaning up the supply chain.

Market participants, particularly battery makers and automakers benefit from a 10-year view. It gives them more flexibility and confidence to include cobalt in the chemistry plans as supply diversity grows and ESG concerns lessen.

The Fastmarkets cobalt long-term forecast leverages our heritage in providing price data and market intelligence in the cobalt market. These insights are paired with expert economic modeling and data to provide market participants and investors with unmatched clarity on how the cobalt market will evolve in the next 10 years.

The 10-year cobalt long-term forecast includes:

  • Price forecasts for cobalt standard grade 
  • Demand forecasts from the EV and ESS markets and from different car types and battery chemistries 
  • Key ESG and supply chain qualification criteria 
  • Supply forecasts including an in-depth review of future supply from existing and new production and projects and geographical analysis, including DRC, Indonesia, Americas, Australia, Africa, Europe and the rest of the world 
  • Analysis of cobalt processing production 
  • The developments of cobalt recycling and its impact on the supply chain 
  • Access to expert analysts  

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Cobalt standard grade prices were stable in the week ended Friday April 5, due to poor demand for cobalt intermediates following price increases in early February amid tight supply in Europe.

After a consultation period, Fastmarkets has amended the MB-CO-0004 cobalt alloy grade and MB-CO-0005 cobalt standard grade prices.

The publication of Fastmarkets’ cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets’ standard-grade cobalt price (low-end) assessments and cobalt hydroxide, min 30% Co, inferred, China, $/Ib for Friday March 8 were delayed because of technical issues. Fastmarkets’ pricing database has been updated.

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