TMC - Cobalt Miners News For The Month Of April 2024
2024-04-25 04:31:48 ET
Summary
- Cobalt spot prices were slightly lower for the month. LME inventory was unchanged for the month.
- Cobalt market news - S&P Global - Cobalt metal market was seen oversupplied through Q2 as demand subdued.
- Cobalt miners news - Glencore and EVelution sign LOI for 7ktpa of cobalt supply in the US. Huayou Cobalt's profit slumps 49% in First Quarter on battery metals rout.
- Electra and Eurasian Resources Group ("ERG") signed cobalt supply agreement starting from 2026. Umicore secures €499 million in sustainability-linked private debt placement. Ardea Resources is in voluntary suspension awaiting an announcement on the Ardea and Japanese Consortium KNP - Goongarrie Hub.
Welcome to the April 2024 cobalt miners news.
The past month saw cobalt prices slightly lower.
Cobalt price news
As of April 24, the cobalt spot price was at US$12.46/lb , down slightly from US$12.72/lb last month. The LME cobalt price is US$27,220/tonne . LME Cobalt inventory is 92 tonnes, the same as the 92 level from last month. More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fast Markets MB .
Cobalt spot prices - 5-year chart - USD 12.46 ( source )
Cobalt demand v supply forecasts
You can view the latest Trend Investing cobalt demand v supply article here .
S&P Global Intelligence cobalt demand v supply forecast as of Aug. 2023 (deficit in 2027) ( source ) ...
Cobalt Miners News For The Month Of April 2024