Consultancy CRU expects 900 T cobalt deficit this year
Macquarie forecasts cobalt deficit of 5,340 tonnes in 2020
Prices for cobalt metal COB-CATH-LON have climbed nearly 50 percent since September to five-year peaks around $19 a lb as stricter emissions controls boost demand for electric vehicles, especially in China, struggling with ruinous pollution levels in some cities.
Consultants CRU Group say electric car and plug-in hybrid vehicle sales could hit 4.4 million in 2021 and more than six million by 2025, from 1.1 million last year.
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more than 4,000 tonnes of cobalt is used annually in rare earth free alternative magnet manufacture - higher cobalt prices and more demand for cobalt is making these alternatives much more expensive
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