Fastmarkets NewGen 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 and nickel

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 NewGen 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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Fastmarkets proposes to amend and realign its listed brands for alloy and standard grade cobalt to reflect new developments in the market and invites feedback on the following consultation.
China’s cobalt metal prices rose in the second half of the week to Friday February 3 due to the strength in local futures prices, but market sentiment remained bearish due to sustained weak demand, sources told Fastmarkets
Glencore achieved a 40% year-on-year increase in cobalt output during 2022 to a total of 43,800 tonnes, the company said in its annual production report published on Wednesday February 1
We recognize the importance of being clear about our price assessment and index process. Our independently audited pricing process aligns with core IOSCO principles and we have successfully completed assurance reviews for our financial benchmarks in metals and mining, forest products and agriculture.
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