GLNCY - Cobalt Miners News For The Month Of June 2024
2024-06-24 06:15:03 ET
Summary
- Cobalt spot prices were lower for the month. LME inventory was flat for the month.
- Cobalt market news - Australia: Albanese/Chalmers deliver $7B splash for critical minerals refiners. The global cobalt market balance forecast to shift from surplus to deficit in the next 2 years.
- Cobalt miners news - Huayou Cobalt to develop HPAL plant, other major projects at IPIP (Indonesia). TMC and SGS produce world-first cobalt sulfate from deep-seafloor polymetallic nodules.
- Chilean Cobalt Corp. announces receipt of USD $317 million letter of interest from US EXIM Bank.
Welcome to the June 2024 cobalt miners news.
The past month saw cobalt prices lower.
Cobalt price news
As of June 22, the cobalt spot price was at US$12.04/lb , down from US$12.44/lb last month. The LME cobalt price is US$26,305/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 12.04 ( source )
Cobalt demand vs. supply forecasts
S&P Global Intelligence cobalt demand vs. supply forecast as of Aug. 2023 (deficit in 2027) ( source ) ...
Cobalt Miners News For The Month Of June 2024