The cobalt price has fallen almost 30% this year to $13.90 a pound, according to Fastmarkets data, amid lackluster global demand and rising supply from the world’s new no. Trend Investing v IEA demand forecast for EV metals ( Trend Investing) ( IEA)Ģ021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3xĢ022 - BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 62 new 5,000tpa cobalt mines (drops to 38 if include recycling)Ĭobalt price has fallen nearly 30% this year. Ĭobalt spot prices - 5-year chart - USD 13.08 (source)Ĭobalt supply and demand forecast - Deficits growing from ~2025/26 (forecast as of 2023 by Cobalt Blue, Benchmark Mineral Intelligence, & Rho Motion) ( source)Ĭobalt Blue, Benchmark Mineral Intelligence, & Rho MotionīMI 2022 forecast for cobalt - Deficits building starting from 2024 More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fast Markets MB. LME Cobalt inventory is 93 tonnes, down from the 96 level from last month. Cobalt price newsĪs of June 23, the cobalt spot price was at US$13.08/lb, significantly lower than US$15.53/lb last month. The past month saw a slow month of news and very depressed cobalt prices. Welcome to the June 2023 cobalt miners news.
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