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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Lighting, Light, Nature

Forecasts and insights that give you unmatched clarity into how the cobalt market will evolve over the decade

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Read some of the latest market coverage coming from our team of price reporters, researchers and editorial team from across the globe

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

Fastmarkets is inviting feedback from the industry on the methodology for its audited non-ferrous price assessments and indices, as part of its announced annual methodology review process.

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

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