As of July 12, 2022, the price of cobalt has fallen to USD 59,985.00 per tonne
The downward trend has continued for cobalt prices on the international market since May 2022.
On the London Metal Exchange, a ton of cobalt currently stands at 59,985.00 US dollars.
According to specialists in the sector, this downward trend is an indirect consequence of the confinements in China.
Driven by the will of the actors involved in the fight against climate change, at the beginning of the year, cobalt prices amounted to around 87,000 US dollars on the international market.
Since propelling themselves around a historic high in May 2022, their highest level in four (4) years, cobalt prices have continued to decline, penalized by lower offers from from Asia.
Moreover, despite this downward trend in cobalt prices which continues on the international market, the experts of the National Mercurial Commission of the Ministry of Foreign Trade inform that Cobalt should rather observe a stable trend for the period from 11 to 16 July of the current year.
According to the weekly note from the Ministry of Foreign Trade, cobalt is expected to sell at USD 87,781.05. A projection that does not corroborate with the reality of the market because for several weeks cobalt has continued to decline on the international market.
It should be noted that the same experts from the National Mercurial Commission project a general downward trend for mining products exported from the Democratic Republic of Congo DRC during this week.
