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bluesamurai

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23/10/20

09:17

Post #: 48323967
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Originally posted by bluesamurai: ↑

Cobalt from the blue . A 31% jump in the average price of cobalt to just shy of $40,000 in August according to Benchmark Mineral Intelligence lifted the sub-index to $59 million, a 17-month high. Cobalt prices have been underpinned this year due to tight supply resulting from export delays of cobalt from the DRC shipped through South Africa and expectations that top Glencore will keep its Mutanda mine – responsible for 20% of global output – on care and maintenance for at least another couple of years.China’s State Reserve Bureau (SRB) is also undertaking significant purchases of cobalt to stockpile the country’s strategic reserves, further chasing up the price.And while much has been made of Tesla’s attempt to eliminate cobalt from its batteries, the difficulty of that task is illustrated by the fact on a sales weighted basis, the average cobalt used in battery and plug-in hybrids is up 15% year on year according to Adamas. And that’s despite the fact that Tesla was number one in terms of cobalt deployment through the month at almost 200 tonnes. QUOTE.The price will rise into the future IMO.

https://www.mining.com/cobalt-nickel-price-rally-lifts-ev-metal-index-to-2020-high/

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https://www.mining.com/over-1-trillion-needed-for-energy-transition-metals/
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