Essential Power…Infinite Possibilities

September 8, 2016

Cobalt – Tightness looms for the new 100,000 tonne market

Publisher: CRU

Author: Edward Spencer

Global demand for refined #cobalt will exceed the 100 kt mark for the first time next year and could exceed 150 kt by 2025. The rapid growth in demand is attributed to the increasing popularity of Li-ion batteries in electric vehicles and a range of modern electronic devices (mobile phones, tablets, portable PCs, power tools). CRU forecasts cobalt demand for these applications to grow by 8% per annum for the next five years. If mining and refining capacity growth fails to keep pace we could see a considerable deficit opening in the market before the end of the decade.

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