The London Metal Exchange three-month Cobalt price sank towards $47,000 per tonne, the lowest since February 11th, amid expectations that supply-chain bottlenecks should continue to ease through the second quarter. Earlier in the month, Chinese battery maker CATL said it would acquire roughly 24% of one of the largest undeveloped cobalt mines in the world, located in DR of Congo, for $137.5 million. Still, Cobalt prices have risen 44% so far this year, amid continued strong demand from the electric vehicle sector.
Historically, Cobalt reached an all time high of 95250 in March of 2018. Cobalt - data, forecasts, historical chart - was last updated on April of 2021.
Cobalt is expected to trade at 44768.55 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 38443.02 in 12 months time.