Between the trend price displayed on the stock market, discover the evolution of cobalt prices as of June 8, 2022

Cobalt prices have fallen sharply on the international market since May 2022.

According to the weekly statement from the National Commission of Mercurial Prices of the Ministry of Foreign Trade, the price of cobalt should remain stable on the international market for the period from June 6 to 11, 2022.

The experts of the Commission des mercuriales project the price of a tonne of cobalt at 87,781.05 USD during the period mentioned.

But following the evolution of metal prices on the stock exchange, the ton of cobalt is trading at 73,605.00 USD as of June 8, 2022 on the international market.

In mid-May 2022, cobalt recorded its highest market value, selling for around USD 87,000 per tonne on the international market.

The Cobalt Institute confirmed, in a report published last week, the key role of cobalt in the green transition, thanks to the rapid growth of the lithium-ion battery market and the rapid development of electric vehicles.

For David Brocas, Chief Cobalt Trader at Glencore, and Chairman of the Executive Committee of the Cobalt Institute, “Securing access to raw materials is a crucial issue in achieving a more sustainable world and moving towards a more green “. Cobalt’s role in batteries and recycling makes it a key metal in the path to carbon neutrality, he says.

In 2021, the cobalt market jumped by 22%, a level never reached before.

It should also be noted that the fall in the price of cobalt should have an impact on the economy of the Democratic Republic of Congo, one of the main producing countries of this metal.

The mining industry in the Democratic Republic of Congo produced and exported 52,246.00 tonnes of cobalt in the first 8 months of the year 2021, according to statistics from the Ministry of Mines.

Although the causes that caused this decline have not been revealed, cobalt remains a decisive metal in the energy transition.