CHART: Price spike doubles value of cobalt EV battery market

At the start of the year cobalt prices fell to their lowest level ever on an inflation adjusted basis and reached near decade lows nominally.  

A surge in supply from the Congo, responsible for 80% of the world’s cobalt output, coupled with tepid demand from the electric vehicle market, saw cobalt sulphate entering the EV battery supply chain in China fall to an average of just $3,556 per tonne in January.  That compares to a peak of nearly $19,000 a tonne in 2022.

Copper production in the DRC...