BATTERY & SUPPLY CHAIN CONF: Fundamentals, not EV demand, dictating cobalt prices

Lower-than-expected growth in demand for cobalt from electric vehicles (EVs) has redirected the market’s focus back to the fundamentals for the material, delegates at the Lithium-ion Battery and Material Supply Chain Conference in Qiandaohu were told.

"Since the growth in demand for cobalt from the EV sector has to date turned out to be minimal, cobalt prices have again become dictated by supply-demand fundamentals rather than by speculation [over future EV demand]," Qu Jiangao, sales director of Greatpower Technology told the conference delegates at the event hosted by Shanghai Xinluo Network Technology on Thursday July 11.

Fastmarkets’ standard-grade in-whs Rotterdam price hit an almost decade high of $43.35-44.45 per lb in April 2018, up nearly 300% from mid-2016, following optimism  over the demand for cobalt amid the rapid...

Published

Susan Zou

July 12, 2019

08:35 GMT

Shanghai