![]() ![]() ![]() Cobalt prices have crashed over the last six months with demand growth slowing just as a wave of new supply washes through the market.Cobalt has lost share to lithium as the Chinese EV market in particular pivots towards non-cobalt battery chemistry. 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 slump triggers lift-off in futures trading. Cobalt demand v supply forecastsīMI 2022 forecast for cobalt - Deficits building starting from 2024 Ĭobalt spot prices - 5-year chart - USD 15.88 ( source) 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 143 tonnes, down from the 159 level from last month. Cobalt price newsĪs of February 21, the cobalt spot price was at US$15.88/lb, down from US$21.92/lb last month. The past month saw a significant drop in cobalt prices and a steady month of news. Welcome to the February 2023 cobalt miners news. I do much more than just articles at Trend Investing: Members get access to model portfolios, regular updates, a chat room, and more.GME Resources changes name to Alliance Nickel Limited and signs non-binding framework agreement for future offtake and project financing with VinES. Aeon Metals Walford Creek exceptional intercept from Amy West hole WFDH548: 98.0 m at 2.56% recoverable CuEq* (1.54% Cu, 0.17% Co, 1.5% Pb, 0.38% Zn, 0.08% Ni, 37.5g/t Ag).Electra Battery Materials achieves first plant-scale recycling of black mass in North America. Jervois Global Idaho Cobalt Operations commercial concentrate production now expected end of Q1 2023.ERG to invest US$50m in the Saudi Arabia market in early-stage exploration for battery transition metals. Cobalt miners news - Glencore hands $7.1b to shareholders after record profit.Cobalt market news - BMI: Cobalt rout continues into 2023 due to limited demand from consumer electronics, a surplus supply from mines, and high inventory levels.A shift towards LFP batteries has not helped cobalt demand in China. Cobalt spot prices were down significantly for the month, and LME inventory was down for the month.Individualized responses to persons that involve either the effecting of transactions in securities or the rendering of personalized investment advice for compensation will not be made without registration or exemption. The Adviser may not transact business in states where it is not appropriately registered or exempt from registration. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.Ĭobalt Wealth Management, LLC is a registered investment adviser in the state of Washington. Please consult legal or tax professionals for specific information regarding your individual situation. The information in this material is not intended as tax or legal advice. The content is developed from sources believed to be providing accurate information. Check the Investment Advisor Public Disclosure of your Cobalt Wealth Management, LLC financial professional on SEC.GOV ![]()
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