Commodity Market Report

Global cobalt short-term outlook April 2022

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30 April 2022

Global cobalt short-term outlook April 2022

Report summary

April saw divergent price trends across major cobalt markets. European cobalt prices maintained an upward trend, with the average price of standard-grade cobalt approaching US$40/lb. Alloy-grade premium has also returned, underpinning by healthy demand from the aerospace and defence sector. On the contrary, Covid interruptions in China have dragged down prices across a spectrum of metal and chemical products, in turn softening hydroxide payability. Producers in Africa are facing new logistical challenges as Durban was hit hard by unprecedented floods.

Table of contents

  • Glencore to supply Murrin Murrin cobalt to General Motors
  • Electra Battery Materials Corporation agrees offtake with Glencore
  • Tsingshan forges new ventures in battery sector
  • EcoPro to take stake in QMB
  • SMM discontinues Pomalaa feasibility study

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