Cobalt futures have been falling since early October to reach a 4-month low of 32390 USD/MT, due to lower demand from the aviation industry amid renewed coronavirus curbs. Still, cobalt remains 14% up from July’s 11-month low, amid growing demand from China along with hydroxide tightness and supply chain disruption. Looking ahead, the cobalt market is expected to remain supported by the demand for EVs from China and Europe.
Historically, Cobalt reached an all time high of 95250 in March of 2018. Cobalt - data, forecasts, historical chart - was last updated on November of 2020.
Cobalt is expected to trade at 30786.70 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 26436.72 in 12 months time.