cobalt price forecast 2020

price review & forecast. Meanwhile, cobalt prices in Q2 underperformed Roskill’s forecast made in early March by about 10 percent. Benchmark’s cobalt hydroxide prices (100% Co contained basis, CIF Asia) have risen from a low of $21,600/tonne in April 2020, at the peak of concern of falling demand linked to the pandemic, to $27,150/tonne as assessed at the end of October 2020, an increase of 25.7%. As of August 22, the cobalt … Welcome to the August 2020 cobalt miner news. 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Heppel agreed, saying one of the big surprises during the first half of the year has been the demand recovery and expansion of the European EV sector. Whether you are an accredited investor or not depends on where you live and other criteria. In its natural form, it can only be found in combination with other chemicals (i.e., chemically combined form) except for small deposits found in natural meteoric iron alloys. We forecast cobalt prices to fall by 4.6% year over year in 2020, with the downside mitigated by a reduction in mine output — notably from Glencore's Mutanda mine, which accounts for 20% of global supply — and COVID-19 disruptions to refinery output. China imports of cobalt raw materials fell 25% in January. We update this on (bi-)weekly basis throughout 2020 with short bullet points to highlight whether the copper market in 2020 and 2021 is developing according to our copper price projection. “The increase in feedstock prices has also driven the cobalt sulfate price to increase in China, which we tracked up by 3.8 percent in July.”. “Cobalt metal used in alloys is typically sold at a premium over the benchmark cobalt metal price,” she said. Data Analysis. “After that I think we can expect the hydroxide market to soften somewhat.”. We forecast cobalt prices to fall by 4.6% year over year in 2020, with the downside mitigated by a reduction in mine output — notably from Glencore's Mutanda mine, which accounts for 20% of global supply — and COVID-19 disruptions to refinery output. As of December 18, the cobalt spot price was US$14.51/lb, about the same as US14.52/lb last Total cobalt demand to exceed 120,000 tonnes per annum by 2020, up approximately 30% from the 93,950 tonnes consumed in 2016 (Darton Commodities, 2016). “Any further impact to DRC logistics/production linked to the virus is the major unpredictable factor, although I think this is relatively low risk,” Rawles said. price review & forecast. “(This) is a huge move in the space of a month — typically we have been seeing 2 to 4 percent moves in the payable month-on-month,” he said. In July, cobalt hydroxide payables, which is the value of cobalt in hydroxide compared with metal, increased by about 10 percent. The resurgence of lithium-iron-phosphate batteries in China or developments in new cobalt-free chemistries may also affect sentiment, despite limited direct impacts on demand in the short term. Zinc Outlook 2021: Concentrates Market to Remain Tight, Copper Forecast 2021: CEOs Optimistic About Copper’s Future, Zinc Trends 2020: Zinc Rally Exceeds Expectations, Nickel Forecast 2021: Juniors Optimistic, Challenges Remain, Start Here! Hydroxide payables are also the highest they have been since Fastmarkets first started assessing the hydroxide payables market in January 2019.”. Cobalt market news - Both cobalt demand and supply have been down in Q1, 2020 due to COVID-19. By selecting company or companies above, you are giving consent to receive communication from those companies using the contact information you provide. The cobalt supply chain faced challenges during the first half of 2020 as the coronavirus pandemic hit markets around the world. Cobalt market news - Roskill sees a more balanced cobalt market in 2020 & forecasts cobalt … The market will grow by an additional 9% this year to reach 113kt says Woodmac and by 2022 forecast cobalt demand from batteries alone is predicted to reach 98kt – or 61% of the overall cobalt … The information is published for planning purposes only and is not an invitation for bids, a request for proposals, or a commitment by VA to purchase products or services. Price Review & Forecast. ... SMM expects cobalt prices to stay at low levels before the holiday, with little chance of recovery for lithium carbonate. Posted October 9, 2019. The pandemic saw commodities prices plummet and then rebound in the first half of the year, with cobalt taking a hit, but experiencing some recovery during the second quarter. Your trusted source for investing success. Going forward, the analyst expects cobalt hydroxide payables and cobalt sulfate to see stronger demand than industrial demand, especially as the aerospace industry is likely to recover only slowly. Despite some rebound in hydroxide payables and metal prices in late 2019 as Glencore mothballed Mutanda, the largest cobalt mine in the world, the cobalt metal price fell back to close to a 10-month low in June 2020.

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