According to the latest Cobalt Institute Ltd. (CI) newsletter, “demand remains firm particularly in the battery and superalloy sector and the longer term prospects look encouraging.” The Institute notes that supply remains secure and the stability assures that cobalt will continue to find its way into new products.
The Institute went on to note that the cobalt industry will see further integration of major players as industry-watchers take note of the FMI purchase of the OMG Inc operations.
Meanwhile, cobalt prices have increased on the LME trading in the $13.72/lb range.
Chinese cobalt cathodes saw the largest upwards shift on the weekly Renewables MMI®, rising 1.5 percent to settle in at the $33,000 per metric ton range. The price of silicon did not change since the previous week. Chinese steel plate traded sideways last week.
Japanese steel plate saw little price movement. US steel plate prices have also held steady.
The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.