Sentiment at this year’s CDI Cobalt Conference in Seoul, South Korea, may have been the most upbeat in the past five years, as market participants hailed robust growth in cobalt demand from the electronic vehicle (EV) battery sector.
Most delegates surveyed by Metal Bulletin at the conference said they expected to see higher cobalt prices before the end of this year, and there is anticipation that a supply deficit could arrive as early as this year. Market participants said they expect prices for low grade cobalt metal to stand above $13-14 per lb before the end of this year.
Metal Bulletin assessed low grade cobalt metal at $10.60-11.20 per lb on Friday May 13. Fundamental change in demand "This is a completely fundamental change, people are very bullish about cobalt demand due to growth in the EV battery sector. Supply is always hard to understand, but demand is now growing like crazy," a major market player said, adding that cobalt will be the "next lithium".
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)