Looks like the Cobalt price in China is moving up again. Not much action on the LME (CME might be the future benchmark for ex China cobalt contracts) but I guess most trades would currently take place in China since they are currently controlling the supply. 311,600 RMB/ton is approx. US$45,120/ton
As long as the COB tech is holding up (hopefully we will have some demo plant news in the next couple of weeks) I believe our product will be in demand from 2025 onwards.
Quote from Reuters FEBRUARY 8, 2023: "While LFP batteries take a growing slice of China’s EV market, Western automakers are still leaning heavily towards chemistries that include both nickel and cobalt for improved power efficiency.However, many Western carmakers are highly wary of using Congolese cobalt in their products for fear their prized branding will be associated with the child labour.There is potential for the global cobalt market to be in structural oversupply but for Western markets to be short of socially acceptable metal.Government stimulus, whether it be the Inflation Reduction Act in the United States or the REPowerEU programme in Europe, will further accelerate EV demand whilst limiting import sources for battery inputs as both regions try and cut dependence on China.The global scramble for cobalt is clearly over for now but the Western scramble may just be starting." Full article from Reuters
COB Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
