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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.
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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.
The world’s largest cobalt producer has cemented its place at the top with the release of a third-quarter financial report highlighting the company has smashed through its full-year production guidance with three months to go.
Imports of cobalt intermediates have continued to rise in China, with January-September volumes already exceeding that of the entire previous year. This excessive inflow has led to an enduring oversupply in the domestic cobalt market, sources have told Fastmarkets
Read Fastmarkets’ monthly battery raw materials market update for October 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more
The price of standard-grade cobalt has fallen to its lowest so far this year in the week ending Friday September 20, on slow demand and continued oversupply.
Critical metal refiner Nth Cycle became the first company in the US to produce premium nickel-cobalt mixed hydroxide precipitate (MHP) this week, when it began commercial-scale operations on Monday September 9
CMOC expects its growth rate of cobalt supply to gradually ease in the second half of 2024, the company said on August 23. Market participants, however, were divided in their response to the announcement, with some expecting the output reduction to alleviate the current imbalance between supply and demand in parts of the market.
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