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 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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Fastmarkets has added a section to its cobalt methodology clarifying how the cobalt metal monthly averages on Fastmarkets’ platform are calculated, following market demand for further clarification
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Competition to establish market share in the battery-grade manganese sulfate market in China is heating up, with expected growth in the electric vehicle (EV) market driving new participants into the sector so far in 2022
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China’s cobalt sulfate and cobalt metal prices trended down in June after a slight pick-up in demand failed to offset the headwinds of sufficient supply and bearish sentiment following the lifting of Covid-19 lockdowns in Shanghai on June 1.
Constrained EV demand causes further Chinese cobalt sulfate price weakness, which has started to push hydroxide payables lower, despite additional supply issues affecting exports from southern Africa
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