Commodity Market Report
Global cobalt short-term outlook December 2023
Report summary
The cobalt benchmark price fell below US$14/lb by the end of 2023 due to weak demand and slowing consumer purchases during the holiday season. Alloy cobalt prices diverged further from standard-grade units due to tightening spot availability. Cobalt sulphate and tetroxide continued to be sold at deep discounts amid slowing battery demand and feedstock oversupply. Although low cobalt prices are likely to cause further project delays and production curtailments even from major producers, we believe there is no quick solution to absorbing all the excess materials in the market.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global lithium short-term outlook December 2023
Wood Mackenzie's latest short-term outlook incorporates recent price changes as well as supply and demand updates affecting the market.
$5,000
Commodity Market Report
Global cathode and precursor short-term outlook December 2023
December 2023 updates for the cathode and precursor markets. Covers; prices, supply, demand, and recent news and events
$5,000
Commodity Market Report
Macro oils short-term outlook: December 2023
We expect significant adherence to the OPEC+ agreement in Q1 2024, but downside risks to demand could curtail price recovery
$2,000