TMC - Cobalt Miners News For The Month Of February 2024
2024-02-23 13:10:04 ET
Summary
- Cobalt spot prices were slightly lower for the month. LME inventory was flat for the month.
- Cobalt market news - Fastmarkets forecasts a widening surplus in the global cobalt market in 2024. U.S. moves to restore stockpiling "panic button" in EV metals fight with China.
- Cobalt miners news - CMOC became the world's No. 1 cobalt mining company with production of some 55,000t in 2023.
- Alliance Nickel signs non-binding term sheet with Samsung SDI for offtake of battery-grade nickel and cobalt sulphate products from the NiWest Nickel-Cobalt Project.
Welcome to the February 2024 cobalt miners news.
The past month saw slightly lower cobalt prices (LCO1:COM). Key news revolved around the U.S and EU (notably Germany) pushing to establish critical raw materials funds to be able to build up stockpiles.
Cobalt price news
As of February 22, the cobalt spot price was at US$12.65/lb , flat from US$12.90/lb last month. The LME cobalt price is US$27,650/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 Miners News For The Month Of February 2024