Globally, the price of cobalt rose to 81,805 USD per ton on April 16, 2022
After recording a considerable fall at the start of the week on the international metals market, cobalt is on the rise again at the end of this week.
According to indications from the London metal exchange (LME), a tonne of cobalt is trading at 81,805 USD at the end of this week against 81,579 USD per tonne at the start of the week, a positive difference of around $488.
On the other hand, the projections of experts from the National Commission of Mercurial, a structure attached to the Ministry of Foreign Trade, cobalt should experience a drop in price during this week.
It should also be noted that following the situation prevailing in Ukraine, the prices of raw materials are very unstable on the international market. The general price trend for mining products remains upward on the international market.
Cobalt is considered a strategic material for industry. It is found in particular in gas turbines made with alloys of iron, cobalt and nickel. It also makes it possible to form hard alloys resistant to corrosion.
Cobalt is also used in certain accumulators, particularly in electrodes. It is also a major element for magnets and magnetic media for recording.
