Cobalt price per pound how to#

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global. We maintain the view that cobalt prices are likely to trend downward as supply-chain disruptions continue easing through the June quarter, with the full-year price averaging $17.97/lb.We forecast the lithium carbonate CIF Asia price to average $9,900/t in the June quarter, down from the March level.In 2021 the price of Rhodium reached almost 30,000 per oz. Historically, Manganese Ore reached an all time high of 51.50 in December of 2016. Ltd. and LG Chem Ltd., which will spur PEV uptake and domestic supply chains. The cobalt futures price peak in April this year remained below the 10-year high of 45/lb in 2018. In June of 2008 the price of rhodium reached a record high of nearly 10,000 USD per ounce By January of 2009 the price had crashed to less than 1,000. Manganese decreased 2 CNY/mtu or 6.40 since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. PEV sector has welcomed the news of a $2.3 trillion infrastructure plan and the settlement between SK Innovation Co. China ’s growing role in cobalt supply comes as a 12-month rally for the metal has spun into reverse, with prices dropping 60 per cent to 16 a pound, from their peak above 40 a pound in May. Chinas passenger plug-in electric vehicle, or PEV, sales totaled just under 500,000 units in the March quarter, with full-year sales on course to exceed 2 million units. Ex-China passenger PEV sales will also benefit from the wider auto sector sales recovery in 2021 in addition to support from tighter emissions regulations. Cobalt prices declined sharply at end-March and into April on expectations of an easing supply-chain bottleneck prices stabilized at 22.60 per pound April 16. COBALT (Data in metric tons of cobalt content unless otherwise noted) Domestic Production and Use: In 2019, the nickel-copper Eagle Mine in Michigan produced cobalt-bearing nickel.China's passenger plug-in electric vehicle, or PEV, sales totaled just under 500,000 units in the March quarter, with full-year sales on course to exceed 2 million units.There are signs prices are nearing a peak, however, with an improving supply outlook.Ĭobalt prices declined sharply at end-March and into April on expectations of an easing supply-chain bottleneck prices stabilized at $22.60 per pound April 16.

At the start of 2023, the copper price was around $3.80 per pound.The lithium carbonate CIF Asia price rose 11% in March to $10,000 per tonne - the biggest monthly increase since the price recovery began in January. Trade log: Cobalt hydroxide payable indicator, min 30 Co, cif China, payable of Fastmarkets’ standard-grade cobalt price (low-end) 15:00 Trade log: Cobalt sulfate 20. That price drop comes after copper hit a high point of over $4.25 per pound in late January. In other news about metals pricing relevant to e-scrap, t he Institute of Scrap Recycling Industries’ Weekly Market Report recently noted that COMEX May copper futures were down 2.3% on the morning of April 5, to around $3.95 per pound. 50 10 7.00 15.00- 9 20.00 8 6 5 TOTAL COST, dollars per pound + M 2 250 500 750 1,000 1,250 TOTAL RECOVERABLE COBALT. The Wall Street Journal warned that because there’s already a projected shortage of metals needed for batteries, a price drop now could cause investments to slow down, further restricting supply chain capacity. Since January, cobalt prices have fallen from around $51,500 per ton to around $34,500 per ton, with the decline at its sharpest in February, according to the London Metal Exchange.

Cobalt price per pound how to#

Learn about metal facts, futures and options, and how to hedge metal prices. Last week, mining company Jervois Global announced it was suspending construction of its Idaho cobalt project because of low prices, the article added. Find the current and historical cobalt price per pound in US dollars for the last month. The Wall Street Journal reported the decline can be attributed to volatile markets and waning demand for electric vehicles, particularly in China.Įric Norris, president of lithium at chemical processing company Albemarle, told The Wall Street Journal that he foresees a “bumpy couple of months,” but that the company still plans to move ahead on building a $1.3 billion lithium processing and recycling facility in South Carolina because he thinks prices will rebound. Now, they’re around $30,000 per metric ton. | Andrii Yalanskyi/ShutterstockĪs demand for electric vehicles declines, prices for lithium, cobalt and copper are sliding down, potentially putting lithium-ion battery recyclers in a tight spot.Īfter hovering around the $70,000 per metric ton mark from mid-2022 through the end of that year, lithium prices started to dive in early 2023. Lithium is selling for about $30,000 per metric ton, less than half of what it sold for in mid-2022.