Oversupply, low prices for cobalt to persist in 2024 as demand slips
December 27, 2023 Comments Off
A cobalt surplus, along with flagging demand, will keep prices down in 2024 as production continues to increase and battery producers turn to more affordable options. There was a cobalt deficit of 8,000 mt in 2021, according to S&P Global Commodity Insights research. Mining companies started ramping up production to meet demand from the electric vehicle sector, and the cobalt…
Oversupply, low prices for cobalt to persist in 2024 as demand slips
A cobalt surplus, along with flagging demand, will keep prices down in 2024 as production continues to increase and battery producers turn to more affordable options. There was a cobalt deficit of 8,000 mt in 2021, according to S&P Global Commodity Insights research. Mining companies started ramping up production to meet demand from the electric vehicle sector, and the cobalt…
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